Another Delay for Cayman FATCA/CRS Portal Launch
Recently the Cayman Islands launched its new website with the promise that the new portal would be launched in Q3 2020. However, the Cayman AEOI Portal Team at the Department for International Tax Cooperation (DITC) has moved out the launch time frame to Q4 2020.
Currently, the FATCA/CRS reporting deadline for the Caymans is November 16, 2020. Given that the portal will open October 1, 2020 at the earliest, the reporting deadline may change. This is especially likely given that any new system is likely to have bugs – particularly when there is a mad dash by financial institutions to upload their data.