As we have discussed in many of our previous blogs, the FATCA train is gathering pace!

To recap – the Foreign Account Tax Compliance Act (FATCA) was brought into law as part an incentive to identify tax non-compliance by US taxpayers with non-US bank accounts by getting the foreign financial institutions (FFI’s) to report their US client’s account numbers, names, addresses and US identification numbers to the IRS.

To date over 77,000 banks and financial institutions have already registered under FATCA to report American accounts holding over $50,000 and 70 countries have agreed to provide information assistance to the IRS.

The IRS has now published a searchable list of the financial institutions who have registered and have been accepted for FATCA. Below is the link to the IRS website providing further details on this.

If you have any questions on FATCA, please contact us.

Other US Tax & Financial Posts:
“It’s not a matter of ‘if,’ it’s a matter of ‘when'”
US clients contacted by Swiss Authority
Are You Affected By FACTA and International Tax Compliance?