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Entity Self-Certification Form

We’re required by Cayman Islands law and international agreements on tax reporting (known as AEOI – Automatic Exchange of Information) to collect information about each account holder’s tax status. We’ve provided the notes below to help you complete the Entity Self-Certification Form, but please note this is general guidance only. If you’re unsure how to respond, we recommend speaking with a qualified tax advisor.

Download Self-Certification Form

1. What Sections to Complete

1.1 Section 1 (All entities)

This is the entity details and should be completed in full by ALL entities.

1.2 Section 2 (USA Only)

Only United States registered entities should complete this section.

1.3 Section 3 (All non-US)

All entities registered outside the United States should complete this section.

Simplified Definitions

  • A non-US registered Financial Institution should complete 3.1 and 3.2.
  • An Active Non-Financial Foreign Entity should complete 3.3b only.
  • A Passive Non-Financial Foreign Entity should complete 3.3e only.

1.4 Section 4 (All entities)

This is the entity details and should be completed by ALL entities. It should note the Entity’s tax residency and tax reference number. If the jurisdiction doesn’t issue tax reference numbers (such as the Cayman Islands), please specify this as a reason. (USA and Global)

1.5 Section 5 (All entities)

This section must be completed by ALL entities. (USA and Global)

Simplified Definitions

  • A non-US registered Financial Institution should complete 5.1.
  • An Active Non-Financial Entity should complete 5.2.
  • A Passive Non-Financial Entity should complete 5.3.

1.6 Sections 6-8 (USA and Global)

If the entity has been classified as a Passive-Non-Financial Entity in questions 3.3e and 5.3, these sections must be completed, otherwise disregard.

2. Common Mistakes to Avoid When Completing the CRS/FATCA Form

  • If the entity is a Active Non-Financial Entity, you MUST provide the qualifying criteria in 3.3(B) and 5.2(C). Use Exhibits A and B at the end of the form to choose the correct letter (from A to J).
  • If the entity is classified as a Passive Non-Financial Entity, you MUST complete Section 4, and Sections 6-8 for EACH controlling person (i.e. each Director, Shareholder, etc.).

3. Definitions

  • FATCA: The Foreign Account Tax Compliance Act (“FATCA”) is a U.S. law that requires foreign financial institutions to report information about financial accounts held by U.S. taxpayers to the IRS.
  • CRS: The Common Reporting Standard (“CRS”) is a global tax transparency framework developed by the Organization for Economic Co-operation and Development (“OECD”). It requires financial institutions in participating countries to automatically exchange information about foreign account holders with their home countries' tax authorities. It works similarly to FATCA but applies globally rather than just to U.S. taxpayers.
  • Controlling Person: A Controlling Person is an individual who directly or indirectly controls an entity. The term 'Controlling Persons' shall be interpreted in a manner consistent with the Financial Action Task Force Recommendations (“FATF”).
  • Financial Institution (“FI”): If the entity handles money, investments, or accounts for clients, it is considered a Financial Institution under FATCA.
  • Active Non-Financial Entity: Operating business (e.g., a company that sells goods, provides services, or is involved in other active business activities).
  • Passive Non-Financial Entity: Company that earns income mostly from investments, such as dividends, interest, or royalties, without significant active business operations.

Disclaimer:

This guidance is for informational purposes only and does not constitute tax or legal advice. Please consult a qualified tax professional or legal advisor for assistance with CRS/FATCA classifications.