The Cayman Islands Department of International Tax Cooperation (DITC) has again extended the notification and reporting deadlines for both UK CDOT and US FATCA.

Notifications and reports are now due by Friday, September 2, 2016. There will be no adverse consequences or sanctions, once compliance is met by this date. The DITC has granted this latest extension due to issues that users have encountered with the AEOI portal.

Should you need assistance with US FATCA and/or UK CDOT compliance, DMS can take the compliance responsibilities off your hands and provide a full-service solution to meet your obligations.

DMS Can Help

Our International Tax Compliance Group will:

  • Classify your entities and structures to determine the FATCA and CRS obligations and analyze the availability of reporting exemptions.
  • Register and obtain Global Intermediary Identification Number ("GIIN") from the IRS and complete any other registration or notification with local authorities.
  • Review governing documents and subscription documents to determine the adequacy of disclosures provisions.
  • Prepare and review IRS Forms and Self-Certifications.
  • Prepare and review the policies and procedures as set forth in the Regulations
  • Act as Principal Point of Contact/AEOI Officer/Responsible Officer to oversee and ensure compliance with all aspects of the regulations in the respective jurisdiction.
  • Review and approve third party investor classification, including relevant agreements with these third parties.
  • Undertake classification and remediation of your investor base.
  • Prepare and file the reports in the respective jurisdictions.
  • Consult on technical and operational aspects of these international tax information regulations.

For further information, please contact your usual DMS professional, any member of the DMS ITC Group, or email:

DMS International Tax Compliance Group is a dedicated, specialist team of attorneys, accountants and compliance experts devoted to serving investment structures in complying with their obligations under FATCA, CRS and other international tax compliance initiatives.

Our diverse team is versed in international tax compliance matters, having undertaken hundreds of FATCA engagements for a wide range of funds, covering multiple jurisdictions. DMS ITC Group maintains strong relationships with local tax authorities, as we constantly monitor regulatory changes on behalf of our clients.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.