Declaration on Joining the Addendum to the CRS MCAA (2024-11-26)

Summary

This document is a formal record (a 'proces-verbal of signature') issued by the OECD's Co-ordinating Body Secretariat confirming that the Cayman Islands, through Duncan E. Nicol, Director of the Department for International Tax Cooperation, signed a Declaration on 26 November 2024 to join the Addendum to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (the CRS MCAA Addendum). As a result of this Declaration, the Cayman Islands' Competent Authority is treated as a signatory of the Addendum effective from that date.

• The document records the OECD's administrative confirmation that the signed Declaration has been received.
• An electronic copy was sent to the Cayman Islands Competent Authority.
• The original is held in OECD archives.
• It does not itself set out new reporting rules, thresholds, or obligations for financial institutions; it simply evidences the Cayman Islands' accession to the Addendum framework governing automatic exchange of financial account information under the CRS multilateral framework.

Because this is a signature/accession record rather than substantive legislation or guidance, compliance officers should treat it as confirming the jurisdiction's continued and expanded participation in the CRS automatic exchange regime via the Addendum, with any resulting practical obligations for reporting financial institutions expected to arise from related CRS legislation, regulations, or DITC guidance rather than from this document itself.

Deadlines

• 26 November 2024: Date on which the Cayman Islands Competent Authority is considered a signatory of the Addendum to the CRS MCAA, per the Declaration signed on this date.