The Cayman Islands Department for International Tax Cooperation (DITC) has announced a final extension of the due dates for notification and reporting by Cayman Islands Reporting Financial Institutions under UK FATCA (also known as UK CDOT) and U.S. FATCA to Wednesday, August 10, 2016.
This extension is applicable to fund managers with Cayman Islands funds regardless of whether such funds have U.S. or UK investors.
Notifications and returns submitted on or before August 10, 2016 will not attract any adverse compliance consequences or enforcement measures.
Duff & Phelps can advise on U.S. and UK FATCA implications in general and specifically what impact this announcement has on your funds and group entities.
Stay Ahead with Kroll
Financial Services Compliance and Regulation
In the ever-evolving financial services landscape, Kroll's award-winning team offers comprehensive regulatory and compliance services, guiding clients through registration, licensing, and compliance support to minimize risks and enhance efficiency globally.