Foreign Account Tax Compliance Act (FATCA)
FATCA was enacted in 2010 by Congress to target non-compliance by U.S. taxpayers using foreign accounts. FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest. Here you will find links to many documents related to FATCA and its implementation.
For access to the regulations and administrative guidance related to FATCA and to learn about taxpayer obligations please visit the Internal Revenue Service FATCA Page at:http://www.irs.gov/businesses/corporations/article/0,,id=236667,00.html.
Model Intergovernmental Agreements (Model Agreements)
Following the enactment of FATCA, Treasury published the Model Intergovernmental Agreement to Improve Tax Compliance and to Implement FATCA. Use the links here to find the current version of the agreement you need.
- Reciprocal Model 1A Agreement, Preexisting TIEA or DTC
(Updated 7-12-2013) - Nonreciprocal Model 1B Agreement, Preexisting TIEA or DTC
(Updated 7-12-2013) - Nonreciprocal Model 1B Agreement, No TIEA or DTC (Updated 7-12-2013)
- Model 2 Agreement, Preexisting TIEA or DTC (Updated 7-12-2013)
- Model 2 Agreement, No TIEA or DTC (Updated 7-12-2013)
- Annex I to Model 1 Agreement (Updated 7-12-2013)
- Annex I to Model 2 Agreement (Updated 7-12-2013)
- Annex II to Model 1 Agreement (Updated 7-12-2013)
- Annex II to Model 2 Agreement (Updated 7-12-2013)
Joint Statements and Signed Bilateral Agreements
- Statement between the US Department of the Treasury and the Authorities of Japan to Implement FATCA (6-11-2013)
- Bilateral Agreement between the US and Germany to Implement FATCA
(5-31-2013) - Bilateral Agreement between the US and Spain to Implement FATCA
(5-14-2013) - Bilateral Agreement between the US and Norway to Implement FATCA
(4-15-2013) - Bilateral Agreement between the US and Switzerland to Implement FATCA
(2-14-2013) - Bilateral Agreement between the US and Ireland to Implement FATCA
(1-23-2013) - Bilateral Agreement between the US and Mexico to Implement FATCA
(11-19-2012) - Bilateral Agreement between the US and Denmark to Implement FATCA
(11-19-2012) - Bilateral Agreement between the US and the UK to Implement FATCA
(9-12-2012) - Joint Communiqué on the Occasion of the Publication of the Model Agreement
(7-25-2012) - Joint Statement from the US and Japan (6-21-2012)
- Joint Statement from the US and Switzerland (6-21-2012)
- Joint Statement from the US, France, Germany, Italy, Spain and the UK
(2-7-2012)
Click here for a complete listing of joint statements and jurisdictions treated as having an intergovernmental agreement in effect.
Press Releases
- Treasury and IRS Issue Final Regulations to Combat Offshore Tax Evasion(1-17-2013)
- U.S. Engaging with More Than 50 Jurisdictions to Curtail Offshore Tax Evasion
(11-8-2012) - Treasury, United Kingdom Sign Bilateral Agreement to Improve Tax Compliance, Combat Offshore Tax Evasion and Implement FATCA
(9-14-2012) - Treasury and IRS Issue Proposed Regulations under FATCA to Improve Offshore Tax Compliance and Reduce Burden (2-8-2012)
