As ever on Cayman, the deadlines for various regulatory requirements and FATCA and CRS are coming thick and fast in the coming months. These will generally apply to all Cayman-domiciled entities including funds, registered companies and financial institutions under the CRS and FATCA regimes and under the Economic Substance regime with the Department for International Tax Cooperation in the Cayman Islands (DITC).
It is also worth remembering that enforcement under the new beneficial ownership regime in the Cayman Islands took effect on 1 January 2025. All clients must ensure entities are compliant with the new regime to avoid enforcement measures.
Director registration renewals and cancellations with the Cayman Islands Monetary Authority (CIMA) should be made and paid for through CIMA’s online portal.
The CRS has also updated the list of Reportable Jurisdictions.
CRS and FATCA deadlines
Cayman Islands financial institutions have until 31 July 2025 to complete their FATCA reporting, CRS reporting and CRS filing declaration.
The registration deadline is April 30, 2025. The deadlines for CRS reporting, the CRS filing declaration and FATCA reporting are all July 31, 2025. The deadline for the CRS compliance form is September 15, 2025.
Another key deadline
June 30 is the deadline for mutual funds and private funds to submit their audited Financial Statements and Fund Annual Return due for all CIMA-registered funds for the prior year ending 31 December.