The Department for International Tax Cooperation wishes to advise Industry that the Cayman AEOI Portal will be taken offline on Friday, 1 June 2018 at 12:00 noon. The statutory reporting deadline for CRS and US FATCA remains 31 May 2018.
It is intended that the AEOI Portal will reopen on 15 June 2018 and will remain open until 31 August 2018 to permit Cayman Financial Institutions additional time to fulfil their reporting obligations.
Cayman Financial Institutions with CRS reporting obligations are reminded that these obligations will not be regarded as complete, even if they have no Reportable Accounts, until they have successfully submitted a CRS Filing Declaration for the relevant reporting period.
During the offline period the AEOI Portal Team will continue to work through queries and requests received. Also, some users may receive communications from the Portal Team regarding their IRS notifications and the remedial actions required.
Completion of 2017 CRS and US FATCA reporting obligations on or before 31 July 2018 will not result in compliance measures being taken for late filing and will not therefore attract adverse consequences, enforcement measures or penalties. Reporting submitted thereafter will be noted and may be subject to compliance reviews by the DITC.
It is anticipated the AEOI Portal will go offline on 31 August 2018 for the preparation of data transmission to the Competent Authorities of relevant treaty partners.
Queries regarding the AEOI Portal must be by email and sent only to CaymanAEOIPortal@gov.ky