Entity Self-Certification Form

Summary

This document is the standard Entity Self-Certification Form published by the Cayman Islands Department for International Tax Cooperation (DITC) for use under the FATCA and Common Reporting Standard (CRS) automatic exchange of information regimes. It is a template that Cayman Islands Financial Institutions give to their entity account holders (and, where relevant, to natural-person Controlling Persons of those entities) so the account holder can certify its status and provide identifying details of any Controlling Persons.

• Tax residency: The account holder certifies its tax residency.
• U.S. person status: The account holder certifies whether it is a U.S. person.
• FATCA classification: e.g. Reporting/Non-Reporting FFI, Active/Passive NFFE, Direct Reporting NFFE.
• CRS classification: e.g. Reporting/Non-Reporting Financial Institution, Active/Passive NFE.
• Controlling Persons: Identifying details of any Controlling Persons must be provided, where relevant.

The form itself does not create new regulatory rules but operationalises existing due-diligence and reporting obligations under the Tax Information Authority Law, its Regulations, Guidance Notes, and applicable intergovernmental agreements. It requires the completing entity (or its authorised signatory) to declare that the information given is accurate and complete, consent to the information being shared with relevant tax authorities where legally required, and acknowledge that a materially false self-certification is an offence.

A continuing obligation is imposed on the person who signs the form: if any information about tax residency or AEOI/CRS/FATCA classification changes, the signatory must promptly notify the recipient (the Financial Institution) and provide an updated, suitably completed self-certification form within 30 days of the change. The same 30-day update obligation applies separately to Controlling Persons identified in Part IV of the form.

Key obligations

• The authorised signatory of the entity must certify that the information in the form is, to the best of their knowledge, accurate and complete.
• The signatory must promptly advise the recipient (the Financial Institution) of any change in circumstances affecting the entity's tax residency or AEOI classification.
• An updated self-certification form must be provided within 30 days of any change in circumstances that causes the information in the form to become inaccurate or incomplete.
• Identified Controlling Persons (or those signing on their behalf) must advise the recipient within 30 days of any change affecting their tax residency status identified in Part IV and provide a suitably updated self-certification and declaration within 30 days of such change.
• The entity/individual consents to the recipient sharing the information with relevant tax information authorities where legally obliged to do so.
• Signatories acknowledge that making a self-certification that is false in a material particular is an offence.

Applies to

Financial Institutions, entity account holders, Reporting Financial Institutions, Non-Reporting Financial Institutions, Passive Non-Financial Entities, Active Non-Financial Entities, Controlling Persons (natural persons)

Deadlines

• within 30 days: Entity signatory must provide an updated self-certification form within 30 days of any change in circumstances causing the form's information to become inaccurate or incomplete.
• within 30 days: Controlling Person (or person signing on their behalf) must advise the recipient and provide a suitably updated self-certification and declaration within 30 days of a change in circumstances affecting the individual's tax residency status.