The Bahamas FATCA/CRS portal will open for registration and reporting on Monday, July 19, 2021 at 9 AM EDT. The portal will close for 2021 on Friday, August 27, 2021 at 5 PM EDT. As we have seen in past years, the Bahamas Competent Authority is prompt in closing its portal so ensure you complete your reporting well in advance. For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com .

The Bahamas Competent Authority has announced an additional extension to FATCA/CRS reporting. Instead of closing the portal on September 30, 2020, the portal will now close on Friday, October 2, 2020 at 5 PM EDT. As we have seen in past years, the Bahamas Competent Authority is prompt in closing its portal so ensure you complete your reporting well in advance. For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com .

The Bahamas FATCA/CRS portal will be offline for maintenance on Saturday September 19, 2020 from 4 AM to 1 PM EDT . The portal is scheduled to reopen at 1 PM EDT on September 19 . The portal will close for 2020 on September 30, 2020 at 5 PM EDT. As we have seen in past years, the Bahamas Competent Authority is prompt in closing its portal so ensure you complete your reporting well in advance. For assistance, please contact me via my contact page or at elizabeth@elizabethmcmo

The Bahamas tax authority announced that its AEOI portal will open for registration and reporting on Monday, August 17, 2020 at 9 AM EDT. The deadline for registration and reporting is Wednesday, September 30, 2020 at 5 PM EDT. Earlier this week, the Bahamas provided an updated list of CRS Exchange Partners . For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com .

The Bahamas Competent Authority announced that its automatic exchange of information (AEOI) portal will open for FACTA and CRS-AEOI registration and submission on Monday July 15, 2019 at 9AM EDT. (This is the same time zone as New York and 2PM in London). The Bahamas AEOI portal will close on Friday August 30, 2019 at 5PM EDT. Registration If a Financial Institution was created after the 2018 registration period ended, it must complete its initial registration by August 3

On May 25, 2019, the Bahamas Competent Authority issued an updated list of Common Reporting Standard (CRS) exchange partners. The following list of exchange partners applies to Y2018 reporting which will be submitted in 2019. The Bahamas is awaiting an action plan from the following jurisdictions. It is possible that satisfactory action plans will be submitted by these jurisdictions to the Bahamas in time to be included for Y2018 CRS reporting submitted in 2019. Accordingl

The Bahamas announced that its AEOI Portal is now open for CRS and FATCA registration and reporting. The key dates are: Deadline for FATCA and CRS registration is Friday August 3, 2018 at 5 PM. Closing Date for FATCA and CRS reporting is Friday August 31, 2018 at 5 PM. As a reminder 5:00 PM Bahamas time is 5:00 PM New York, 10:00 PM London, and Hong Kong 5:00 AM August 4, 2018 / September 1, 2018. Click for the Bahamas Competent Authority AEOI Portal User Guide which wa

The Bahamas tax authority recently announced that it no longer plans to follow the narrow approach in CRS compliance. It will instead implement CRS by way of the Multilateral Convention on the Mutual Administrative Assistance in Tax Matters (the Convention) on a non-reciprocal basis. The biggest impact on Bahamas Financial Institutions (FIs) in the switch from narrow to wider approach is an expansion of CRS due diligence. [This is an update to my previous blog posts: January

There has been much discussion regarding the Common Reporting Standard’s (CRS) “wider approach” to due diligence and reporting but what does it mean when Hong Kong says it is taking the “optional approach” and Bahamas announces it is taking the “narrow approach”? Bilateral v Multilateral Implementation Under CRS, a Reporting Financial Institution (FI) must establish, maintain and apply due diligence procedures to identify Account Holders (and Controlling Persons for certain