Cayman extends deadline US FATCA and UK CDOT reporting

The Department for International Tax Cooperation announces a final extension of the soft enforcement due dates for notification and reporting under UK CDOT and US FATCA to Wednesday, 10 August 2016. Notifications and returns submitted on or before Wednesday, 10 August 2016 will not attract any adverse compliance consequences or enforcement measures. This will allow financial institutions a further two months in which to undertake their obligations under UK CDOT and US FATCA for 2016. Financial institutions are advised to leave sufficient time to complete their notification and reporting before Wednesday, 10 August 2016, particularly if they opt to conduct their notification and reporting concurrently. This will be the final extension of the notification and reporting soft enforcement due dates for UK CDOT and US FATCA for 2016.