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

View profile for Jonathan McLeanJonathan McLean
Partner and Head of Banking & Regulatory
, View profile for Chris HumphriesChris Humphries
Managing Director and Head of Funds
, View profile for Megan WrightMegan Wright
Partner and Head of Corporate

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.