The Director of the Guernsey Income Office has become aware that several financial institutions may not have been able to meet the 30 June 2016 deadline, for reviewing accounts under the intergovernmental agreements (IGAs) with the UK and the United States for all “low value accounts” and “pre-existing entity accounts.”
Accordingly, the date for required due diligence on these accounts has been extended to 31 December 2016.
Read a December 2016 report [PDF 70 KB] prepared by the KPMG member firm in the Channel Islands
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