The Department for International Tax Cooperation (DITC) is advising industry about important AEOI portal updates, which include that the portal is now open. Please note that you may experience delays, based on the volume of users on the portal at any given time, as you complete your notification and reporting obligations for both US FATCA and CRS.
AEOI Portal User Guide
- The DITC has published AEOI Portal User Guide v3.1 (User Guide) which explains how Cayman Financial Institutions (“CFIs”) must perform:
- Their notification obligations in respect of US FATCA and the CRS; and
- Their reporting obligations in respect of US FATCA.
- Users must review the User Guide before operating the AEOI Portal.
AEOI Portal Is Now Open
- The Cayman Islands AEOI Portal was reopened on 17 May 2017.
Notification Obligation: US FATCA and CRS
- Users should regard compliance with their notification obligation (whether first-time registration or updating an existing notification) as the top priority.
- In order to complete its notification obligation, every CFI must prepare a new