CRS Compliance Forms – Don't miss the deadline

In this Update, we provide a reminder that the deadline for filing both the 2019 and 2020 CRS Compliance Forms is approaching next month.

15 September deadline – 2019 and 2020 CRS Compliance Forms

Our recent quarterly Regulatory Update highlighted that both the 2019 CRS Compliance Form and the 2020 CRS Compliance Form are due to be filed with the Cayman Islands Department for International Tax Cooperation (DITC) on or before 15 September 2021. All financial institutions with CRS reporting obligations, including trustee documented trusts, are obliged to file the CRS Compliance Forms. Failure to submit by the deadline is an offence which could lead to liability for a fine.

The DITC has published useful FAQs to assist with completing the CRS Compliance Forms on their website and section 5.F of the CRS Guidelines also provides guidance. Additional CRS resources can be found on the DITC-issued resources page.

Next steps

If you haven't done so already, we would suggest reaching out to your CRS/AEOI service provider to check the status of your CRS reporting obligations and to make sure that the 15 September 2021 deadline is not missed.

For assistance with understanding your compliance obligations, or if you would like to added to the mailing list for our quarterly Regulatory Update, please reach out to your usual Mourant contact or one of the contacts listed on this page.