FATCA/CRS Compliance

In recent years many countries, including most Caribbean jurisdictions, have signed treaties and implemented agreements in order to assist each other with their common pursuit of global tax transparency. As these agreements are implemented, CIBC FirstCaribbean is obliged to collect additional information from its clients in order to confirm tax residency details for its account holders. Based on tax residency and or US citizenship, CIBC FirstCaribbean has a legal obligation to report customers financial account information to the relevant local, regional or extra-regional tax authority.