News & Insights

CRS, FATCA and Economic Substance Filing Deadlines 2022

The CRS has updated its Reportable Jurisdictions which can be accessed here.

Clients are reminded of the following important filing dates for Financial Institutions under the CRS and FATCA Regime and Economic Substance regime filings with the Tax Information Authority in the Cayman Islands:

30 April 2022	Registration	Entities that are classified as Financial Institutions under CRS and FATCA who started business between 1 May 2021 and 29 April 2022 must Register online on the DITC Portal.
31 July 2022	CRS/FATCA Reporting	Entities that are classified as Financial Institutions under CRS and FATCA must file their annual report online on the DITC Portal.
15 September 2022	CRS Compliance	Entities that are classified as Financial Institutions under CRS must file the annual CRS Compliance Form online on the DITC Portal.
12 months following the previous financial year end	Economic Substance Return	Relevant Entities carrying on a Relevant Activity or an Entity claiming the Tax Residency Exemption must file its annual Economic Substance Return annually 12 months following the previous financial year end online on the DITC Portal. (ie if an entity has a 31 March 2021 year end it must file its annual return by 31 March 2022 or if an entity has a 31 December 2021 year end it must file its Annual Return by 31 December 2022.)

Read full article on FATCA and CRS Deadlines 2022 here.

Forms and Online Portal Access at the Cayman Islands Department for International Tax Cooperation (DTIC) here.

Should you require any assistance with your obligations please contact your usual Stuarts attorney or jon.mclean@stuartslaw.com.

Contact our experts for further advice

Jonathan McLean

Partner and Head of Banking & Regulatory

Tel:+1 (345) 814-7930

,

Chris Humphries

Managing Director and Head of Funds

Tel:+1 (345) 814-7911

,

Partner and Head of Corporate

Tel:+1 (345) 814-7904

This publication is for general guidance and is not intended to be a substitute for specific legal advice. Specialist advice should be sought about specific circumstances.

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Publication Recognition - Legal 500
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“Very responsive team with wide knowledge on funds-related issues, including crypto funds.”
Fund Client Testimonial - IFLR 1000
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Client Testimonial - Chambers & Partners
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Fund Client Testimonial - Legal 500
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Client Testimonial - Chambers & Partners
“Stuarts Humphries, understands the complex issues we face and the firm offers substantial value in relation to the fees charged.”
Legal 500
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Fund Client Testimonial - IFLR 1000
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Fund Client Testimonial - Chambers & Partners
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Legal 500

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