FATCA & CRS

Our FATCA and CRS services are designed to simplify compliance with international tax reporting standards. We assist with entity classification to determine reporting status, including GIIN registration with the IRS. Our team can act as a principal point of contact (PPOC) or responsible officer, handling registrations with both the IRS and the Cayman Islands Tax Information Authority (TIA). We also provide investor onboarding services, ensuring due diligence through KYC documentation review and validation of FATCA/CRS status. Additionally, we prepare and submit required reports to the TIA using the DITC portal, based on financial information supplied by the entity or fund administrator.

Services
Classification
+
-

Analyse entity to determine its reporting status for FATCA and CRS. Global Intermediary Identification Number (GIIN) registration.

Registration of FI with U.S. Internal Revenue Services (IRS) under FATCA through the IRS portal to obtain the GIIN.

Principal point of contact (PPOC) or responsible officer (including registration with tax information authority (TIA))
+
-

  • Providing an individual to act as PPOC or responsible officer for the IRS and DITC portal.
  • Preparation of resolutions and formal appointment/consent documentation.

Investor onboarding services
+
-

  • Onboarding of new account holders.
  • Ongoing review of due diligence documentation (KYC).
  • Validation and maintenance of FATCA/CRS status of account holders.

Reporting
+
-

Based on financial information supplied to CCCS by the entity or fund administrator*, CCCS can submit reports to the TIA through the DITC portal.

*CCCS does not provide fund administration services.

Policies and procedures
+
-

Working in partnership with Collas Crill attorneys, CCCS can assist with co-ordinating the review of new or existing policies and procedures required for FATCA and CRS compliance in the Cayman Islands.