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Automatic Exchange of Information (AEOI)

Automatic Exchange of Information (AEOI)

The Common Reporting Standard (CRS), US and UK FATCA

The Common Reporting Standard (CRS), US and UK FATCA

The Cayman Islands Tax Information Authority (“Cayman TIA”) following the implementation of US FATCA, has confirmed that they are moving forward with the implementation of the OECD Common Reporting Standard (CRS).

Following the implementation of  FATCA, the Cayman Islands Tax Information Authority (TIA) implemented the Common Reporting Standard (CRS) in 2016. Cayman Islands Funds, Investment Managers and General Partners have to comply with the increased scope of AEOI under CRS and FATCA. KPMG can help provide transparency and guidance. 

CRS timeline

KPMG has developed a number of services in order to assist Cayman Financial Institutions with the new issues of CRS and U.S. FATCA, including:

  • Providing an analysis of CRS and FATCA’s impact on financial institutions.
  • Assisting in filling out the appropriate self-certification forms to certify AEOI status.
  • Performing a Health Check, an investor or account holder review, including reviewing samples of classification for accuracy.
  • Providing training to your financial institution to ensure you remain ahead of the latest developments and ensure compliance.
  • Submitting the annual required reports to the Cayman Islands TIA. 

Have questions?

KPMG in the Cayman Islands has an AEOI Help Desk for any questions you may have. Contact the KPMG Cayman AEOI team at aeoi@kpmg.ky or fatca@kpmg.ky.