This report outlines some of the steps being taken by different foreign jurisdictions to ensure that U.S. taxpaying entities are properly complying with FATCA guidelines.

The Cayman Islands have extended notification and reporting dates for the US and UK Foreign Account Compliance Act (FATCA) for 2016.

The goal of the FATCA law is to increase transparency into unreported, taxable income of U.S. taxpayers (both individuals and business entities) with foreign-held accounts.