Letter of Authorisation Template

Summary

This document is a template letter of authorisation published by the Cayman Islands Department for International Tax Cooperation (DITC) for use by Financial Institutions (FIs) under the International Tax Compliance Regulations (covering CRS/FATCA). It is a fillable form/letter that an FI sends to the Tax Information Authority (c/o DITC) to formally notify the Authority of the individuals or entities it has designated as its Principal Point of Contact (PPoC) and its Authorising Person for compliance purposes.

• FI details required: The FI's name, address, contact details, FI number (except for new enrolments), and IRS-issued GIIN if applicable.
• Designated roles: The identity and contact details of the two designated roles: the Principal Point of Contact (PPoC) and the Authorising Person.

• PPoC authority: Represents the FI for compliance purposes and can notify DITC of changes to required information, except changes to the identity of the PPoC itself.
• Authorising Person authority: Specifically empowered to notify DITC of any change to the identity of the PPoC.

The form itself does not set a filing deadline but embeds an ongoing commitment: the FI states it will promptly submit an updated version of the letter whenever there is a change in the PPoC or Authorising Person information. This is a purely administrative/notification instrument rather than a substantive regulatory rule, but signing and submitting it creates a standing obligation to keep DITC informed of these designated contacts.

Key obligations

• The FI must promptly provide DITC with an updated Letter of Authorisation whenever there is any change in the identity or details of the Principal Point of Contact or the Authorising Person.
• The Principal Point of Contact, once authorised, must notify DITC of any subsequent change in required information under the Regulations (other than changes to their own identity).
• The Authorising Person must notify DITC of any subsequent change in the identity of the Principal Point of Contact.

Applies to

Financial Institutions (FIs) subject to the International Tax Compliance Regulations (CRS/FATCA reporting financial institutions)

Deadlines

• in the event there is any change in the above information: FI must promptly provide DITC with an updated Letter of Authorisation reflecting the change in Principal Point of Contact or Authorising Person details.