Deadline Extension Regarding Cayman Island Reporting Requirements Under CRS

Pursuant to an industry advisory dated June 22, 2017, the Department for Internal Tax Cooperation (the "DITC") has made an announcement with respect to the Automatic Exchange of Information (the "AEOI") applicable to Cayman Islands Financial Institutions. Please note that an extension has been made to the notification deadline for US FATCA and CRS, with respect to the calendar year 2016, from June 30, 2017 to July 31, 2017, which is the same date that reporting is due to the DITC. Thus, required filers should file notifications prior to the July 31, 2017 deadline. Notification and reporting must be reported via the AEOI portal located at: www.tia.gov.ky.

Cheryl Spratt