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Cayman : CRS filing deadline changes, again ...

Cayman : CRS filing deadline changes, again …

Posted by: Paul
Category: FATCA_CRS
The Department for International Tax Cooperation (DITC) has recently advised that the reporting deadline for Common Reporting Standard (“CRS”) filings has been extended to 16 November 2020.
DITC has therefore now aligned the CRS reporting deadline with the new FATCA reporting deadline of 16 November 2020, for the 2019 reporting period.
Lastly, and as disclosed previously the DITC’s new CRS Compliance Form, a mandatory filing required as part of your compliance with CRS,  must be filed for the 2019 reporting period by 31 December 2020. The DITC will apply automatic penalties where this deadline is not met.
As FATCA and CRS reporting is becoming more demanding, including the announcement of the new CRS form, we have seen a strong interest from our global client base to delegate their AEOI function to a third party that has the resources and expertise to ensure full compliance. As the filing deadlines approach, we welcome the opportunity to further discuss our compliance solutions, along with any new requirements you may have.

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