On March 22, 2024, the Cayman Islands Department for International Tax Cooperation (DITC) announced the FATCA and Common Reporting Standard (CRS) portal is open for FATCA and CRS uploads.
Reporting Deadlines
The DITC also announced this year’s deadlines.
CRS: Missing DOBs
Ten percent of Cayman Islands Financial Institutions (FIs) failed to report a date of birth (DOB) for individual Account Holders and/or Controlling Persons. The DITC reminded FIs in the March 22 notice that FIs must ensure the correct DOB is provided for all Account Holders and Controlling Persons in Y2023 CRS XML Returns. If an FI fails to include DOBs, the DITC may take compliance and enforcement action.
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