Technical Difficulties (2023-06-01)

Summary

This is a short notice from the BVI International Tax Authority (ITA) alerting users of the BVI Financial Account Reporting System (BVIFARS) to ongoing technical difficulties affecting filing. It provides temporary relief from penalties for late filings caused by the system issues while a fix is implemented.

• Issue: BVIFARS, the portal used for FATCA, UK CDOT and CRS filings, is experiencing technical difficulties.
• ITA response: The IT team is working to restore full functionality, with an expectation the portal would be fully functional the following week.
• Filer guidance: Users are encouraged to keep attempting to file during the disruption.
• Penalty relief: No penalties will be issued for late filings that result from these technical difficulties.

The notice is informational and time-limited, tied to a specific technical incident rather than establishing a permanent rule change.

Applies to

BVI Financial Institutions, users of the BVI Financial Account Reporting System (BVIFARS)

Deadlines

• next week (from 2023-06-01): ITA's expectation for when the BVIFARS portal would be fully functional again