Bahamas Open for Submissions on Monday
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.
If a Financial Institution was created after the 2018 registration period ended, it must complete its initial registration by August 30, 2019.
Bahamas Reporting Financial Institutions are not required to file nil returns with The Bahamas Competent Authority for the Common Reporting Standard (CRS).
However, Reporting Bahamas Financial Institutions with no Reportable Accounts are required to file nil returns with The Bahamas Competent Authority for FATCA.