Pursuant to an industry advisory (the "Advisory") dated 29 May 2018, the Department for International Tax Cooperation ("DITC") has made announcements with respect to the availability of the AEOI Portal over the coming months and with respect to a soft extension for completion of filing requirements.

Although the statutory deadline for 2018 reporting remains unchanged as 31 May, the DITC advises that completion of 2017 CRS and US FATCA reporting obligations on or before 31 July 2018 will not result in compliance measures being taken for late filing.  Reports submitted thereafter will be noted and may be subject to compliance reviews by the DITC.

The Cayman AEOI Portal will be taken offline between Friday, 1 June 2018 at 12:00 noon and 15 June 2018.  The DITC anticipates that the portal will then remain open until 31 August 2018, after which the DITC will prepare for transmission of CRS and FATCA Returns to the relevant counterparty competent authorities.  The Advisory does not discuss whether the portal will be available again in 2018.

Further information about the AEOI regimes can be found on our dedicated FATCA and CRS webpage.  Additionally, you may contact any one of the above members of our dedicated AEOI team.

CONTACTS

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Richard May

Managing Partner

+1 284 852 3027

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Christopher Capewell

Partner

+1 345 814 5666

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Tim Dawson

Partner

+1 345 814 5525

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Tim Frawley

Partner

+1 345 814 5354

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Patrick Head

Partner

+1 345 814 5377

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Martin Livingston

Consultant

+1 345 814 5471

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Alasdair Robertson

Partner

+1 345 814 5345

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James Turner

Associate

+1 345 814 5586

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Tahir Jawed

Managing Partner

+971 4 360 4071

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Nick Harrold

Partner

+852 3690 7403

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Harjit Kaur

Partner

+44 20 7466 1655

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Heidi de Vries

Managing Partner

+44 20 7466 1651

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Michael Gagie

Managing Partner

+65 6922 8402

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Andrew Quinn

Partner

+353 1 619 2038

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