The Cayman Islands Department for International Tax Cooperation (DITC) portal now has the functionality to deactivate a Financial Institution (FI) where the entity has ceased to exist or is otherwise no longer a Cayman Reporting FI.

To deactivate an FI from the DITC Portal, all reporting obligations must be completed including, a CRS Return (if applicable), CRS Filing Declaration and CRS Compliance Form for each year the FI had reporting obligations. Once filed the Principal Point of Contact must then submit a deactivation request via the relevant form.

The DITC portal User Guide has been updated and can be found here.

All the updates of DITC can be found here.