Funds in the Cayman Islands must satisfy certain international tax transparency regulations and requirements, reflective of the Cayman Islands’ role as a highly cooperative international jurisdiction. Calderwood’s AEOI – FATCA & CRS team have a depth of experience and expertise in AEOI and are ready to assist Investment manager’s in navigating these additional compliance regimes.

Why Calderwood
Ensure all international compliance requirements are met
Notification and liaison with the IRS and other relevant authorities
Acting as main point of contact with the Department of International Tax Cooperation
Our process

Practically speaking for funds, the Automatic Exchange of Information (AEOI) framework covers annual adherence to the Foreign Account Tax Compliance Act (FATCA) and the Common Reporting Standard (CRS), established as part of the global tax reporting initiatives to combat international combat tax evasion.

Calderwood’s AEOI services include:

  • Registering a client with the IRS and obtaining a Global Intermediary Identification Number (GIIN), and/or registration, notification and liaison with the relevant authorities, as applicable
  • Acting as Principal Point of Contact, AEOI delegate/ responsible officer to manage and ensure compliance with the regulations in the relevant jurisdictions;
  • Drafting or reviewing tax withholding forms, sponsored entity agreements, delegation agreements and reviewing self-certification forms as applicable;
  • Drafting or reviewing policies and procedures and ensuring inclusion of the outsourcing role;
  • Preparation and filing of reports; and
  • Completing regular compliance reviews.

In addition to implementing AML/CFT policies and procedures to protect, Cayman Islands entities which are Financial Institutions (as defined in the regulations) are obligated to report under US FATCA and OECD CRS via the Cayman Islands AEOI portal. Further services that Calderwood can provide are:

  • Acting as main point of contact with the Department of International Tax Cooperation for notification and reporting issues;
  • Verification and entry of shareholder or partner tax jurisdiction;
  • Verification and entry of portfolio valuation for each shareholder or partner as at 31 December; and
  • Assisting with country by country reporting (CBRC).

How we can help

Your team

Lucy Griffiths
FATCA Compliance Associate