Further to our previous update in relation to the extension of the deadlines for both notification and reporting by Reporting Financial Institutions ("Reporting FIs") through the Cayman Islands AEOI Portal (the "Portal"), Reporting FIs are reminded to complete any applicable FATCA notification and reporting for both US FATCA and UK FATCA (CDOT) through the Portal on or before the deadline of Wednesday, 10 August 2016. In the days running up to the deadline, users should expect heavy traffic on the Portal.

In relation to CRS, Reporting FIs are reminded that 31 December 2016 is the deadline for the completion of due diligence on Preexisting High Value Individual Accounts.