Guernsey Issues FATCA/CRS Compliance Tips
Given that FATCA and CRS have been in place for several years, Financial Institutions (FIs) should be prepared for examinations and...
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Elizabeth A. McMorrow
Jun 22, 2021
Isle of Man FATCA/CRS Penalties
The Isle of Man announced Financial Institutions (FIs) who miss the FATCA and CRS reporting deadline will be liable to an initial late...
Elizabeth A. McMorrow
Jun 14, 2021
Mauritius Alert: CRS Common Errors May Result in Penalties
The Mauritius Revenue Authority (MRA) recently issued two communiques regarding Common Reporting Standard (CRS) reporting errors and...
Elizabeth A. McMorrow
Jun 9, 2021
What Is the IRS No TIN List?
As part of a Financial Institution’s (FI’s) FATCA obligations, an FI must conduct due diligence that includes collecting a non-U.S....
Elizabeth A. McMorrow
Jun 4, 2021
Cayman Warning on CRS & FATCA Classifications
In April 2021 and again on June 3, 2021, the Cayman Islands Department for International Tax Cooperation (DITC) warned financial...
Elizabeth A. McMorrow
Apr 25, 2021
BVI FATCA & CRS Deadline Extended
The British Virgin Islands (BVI) International Tax Authority (ITA) announced its Common Reporting Standard (CRS) and FATCA reporting...
Elizabeth A. McMorrow
Mar 19, 2021
FATCA: No US TIN? Be Prepared to Report Why
Have you collected a U.S. tax identification number (TIN) from each of your U.S. account holders? If you were not able to, the U.S....
Elizabeth A. McMorrow
Mar 16, 2021
Bahamas Announces 2021 FATCA/CRS Portal Schedule
The Bahamas FATCA/CRS portal will open for registration and reporting on Monday, July 19, 2021 at 9 AM EDT. The portal will close for...
Elizabeth A. McMorrow
Mar 2, 2021
IRS, FATCA & the IDES of March
For those financial institutions (FIs) who submit their FATCA reporting directly to the U.S. Internal Revenue Service (IRS), the March...
Elizabeth A. McMorrow
Jan 29, 2021
New Guernsey FATCA/CRS Compliance Statement Requirement
The Guernsey Revenue Service announced Financial Institutions (FIs) must submit Common Reporting Standard (CRS) and FATCA Compliance...
Elizabeth A. McMorrow
Dec 13, 2020
Cayman Portal Deadline & Penalties Update
The Cayman Islands Department for International Tax Cooperation (DITC) issued an Updates Bulletin dated December 10, 2020 with a number...
Elizabeth A. McMorrow
Dec 8, 2020
RO Certs Due December 15, 2020
The IRS issued a reminder today re: FATCA RO certifications. "For the certification period ending December 31, 2019 (generally entities...
Elizabeth A. McMorrow
Nov 8, 2020
New Cayman Portal Finally Open
The Cayman Islands Department for International Tax Cooperation’s (DITC) new portal is now open. The DITC has also issued its 43-page...
Elizabeth A. McMorrow
Nov 4, 2020
Cayman FATCA/CRS Reporting Deadline December 16, 2020
The Cayman Islands Department for International Tax Cooperation (DITC) announced its new portal will open in early November 2020 and the...
Elizabeth A. McMorrow
Sep 25, 2020
Another Delay for Cayman FATCA/CRS Portal Launch
Recently the Cayman Islands launched its new website with the promise that the new portal would be launched in Q3 2020. However, the...
Elizabeth A. McMorrow
Sep 24, 2020
New Bahamas FATCA/CRS Extension
The Bahamas Competent Authority has announced an additional extension to FATCA/CRS reporting. Instead of closing the portal on September...
Elizabeth A. McMorrow
Sep 15, 2020
Bahamas Offline on September 19
The Bahamas FATCA/CRS portal will be offline for maintenance on Saturday September 19, 2020 from 4 AM to 1 PM EDT. The portal is...
Elizabeth A. McMorrow
Sep 2, 2020
BVI Portal Is Live
The new BVI portal is back on line and open for FATCA and CRS reporting. The deadline for CRS (where extensions were previously granted...
Elizabeth A. McMorrow
Aug 26, 2020
FATCA: Mandatory Certification for GIIN Deregistration
The deregistration of an entity from the IRS FATCA portal may be necessary as a result of the sale, liquidation or other termination of...
Elizabeth A. McMorrow
Aug 24, 2020
New Cayman Website Launched
The Caymans has launched its new fresh looking website which covers: CRS, FATCA, Economic Substance, Exchange of Information, and CBCR....
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