Notice To Cayman Financial Institutions – CRS Date of Birth Information

The Cayman Department for International Tax Cooperation (“DITC”) has recently determined that approximately 10 percent of Financial Institutions (“FIs”) failed to report a date of birth (“DoB”) for individual Account Holders and/or Controlling Persons on their submitted CRS XML Returns.

If you are a Reporting Financial Institution, please take note that it is mandatory in the Cayman Islands that individuals Account Holders and Controlling Persons of FIs whom have been identified as Reportable Persons are obliged to provide the DoB pursuant to the Tax Information Authority (International Tax Compliance) (Common Reporting Standard) Regulations (2021 Revision). Click here.

Action required

1.  FIs must ensure the correct DoB are provided for all individual Account Holders and Controlling Persons in the CRS XML Returns for the 2023 Reporting Period (Please note that the reporting deadline is 31 July 2024).

2. Failure to include the DoB in a CRS XML Return may result in compliance and enforcement action being taken against the FI

For more details, you may refer to the following:

1.    News from Industry Press Room. Click here.

2.    Explanatory Note – CRS reporting Obligations of the Date of Birth (DoB). Click here.

Thank you for your attention to this matter.

PORTCULLIS GROUP
www.portcullis.co

 

 

尊貴的客戶惠鑒：

開曼群島金融機構 – CRS 出生日期相關資訊之申報

開曼群島國際稅賦合作處（DITC）於近期公佈約有 10% 之金融機構，於其所提交之 CRS XML 申報書內，未按規定提供個人帳戶持有人或實質控制人之出生日期相關資訊。

敬請注意，如貴客戶為金融機構，須按DITC現行之『稅務資料管理局（稅法遵循）「共同申報及盡職審查準則」（2021 修訂版）』，提供個人帳戶持有人和金融機構實質控制人之出生日期相關資訊。詳細規定請點閱此處

後續應行措施

1.  所有金融機構須確保其 2023 年申報期間之 CRS XML 申報書內所有個人帳戶持有人和實質控制人之出生日期相關資訊均為完整且正確。（敬請注意，上述申報書之申報截止日為 2024 年 7 月 31 日）。
2. 此外，未於 CRS XML 申報書內提供上述人員出生日期相關資訊之金融機構，恐將遭受強制執行等處分。

欲了解更多詳情，請點閱：
1. 產業最新消息
2. 出生日期相關資訊之CRS申報義務

謹啟

保得利集團
www.portcullis.co