Bermuda has published Guidance for Financial Institutions to follow with respect to the Common Reporting Standard. Financial Institutions and their advisors should pay particular attention to the information as it covers many facets of the due diligence and reporting requirements. In particular, the Guidance provides that the due date for this year’s reporting will be August 30 (May 31 for all years after), and that registration (notification) must be completed by July 14 on the Bermuda Exchange of Information Electronic Portal. That portal has yet to be released.
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