Cayman Islands: AEOI Portal closure - KPMG Global
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Cayman Islands: AEOI Portal closure

Cayman Islands: AEOI Portal closure

The Department for International Tax Cooperation of the Cayman Islands issued a release today that confirms an earlier report that Cayman Islands AEOI Portal will be closed for reporting at 4 pm on 13 September 2017.


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According to a release from the department:

  • The AEOI Portal team is currently working through a significant backlog of technical queries, issues and requests which have been emailed to the AEOI Portal mailbox. Cayman financial institutions that have emailed the AEOI Portal team can expect responses over the next six weeks. Financial institutions are requested to wait for the team’s response and not to send further emails relating to known issues.
  • Emails received to the AEOI Portal mailbox after 13 September 2017 will not be reviewed for response until 16 October 2017 at the earliest, since the team works to resolve the backlog.
  • Once data submitted prior to the Portal closing on 13 September has been transmitted to the IRS and the CRS Common Transmission System, the Portal will reopen to allow Cayman financial institutions to complete any outstanding reporting. The reopening of the Portal will be communicated through an industry advisory and on the AEOI Portal page. The Portal is not anticipated to reopen until late October or early November 2017 at the earliest.
  • For compliance purposes, the Department for International Tax Cooperation will consider the efforts made by Cayman financial institutions to fulfill their reporting obligations on time. Financial institutions that were unable to complete their obligations as a result of issues emailed to the AEOI Portal team prior to the reporting deadlines “can reasonably expect these factors to be taken into consideration.”

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