FATCA Update! - 112 FATCA Agreement To Date!

Since our last FATCA update which we posted on Monday, December 1, 2014, FATCA Update! - 101 FATCA Agreement To Date! the following 11 countries have signed FATCA agreements with the US  bringing the total to 112 jurisdictions with FATCA agreement including : 

1. The U.S. and Seychelles sign agreement to implement FATCA. Seychelles is about to sign a Model 1B inter-governmental agreement (IGA) with the US to implement the US Foreign Account Tax Compliance Act. The Seychelles Revenue Commission will collect the information from domestic financial institutions and exchange it with the US Internal Revenue Service annually.
2. The U.S. and Singapore sign agreement to implement FATCA. According to the Treasury Department, the U.S. and Singapore signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) on Dec. 9, 2014.
3. The U.S. and Iceland & Cyprus sign agreement to implement FATCA. Iceland and Cyprus have signed intergovernmental Model 1 agreements with the U.S. to implement the Foreign Account Tax Compliance Act on Dec. 2, 2014 & Dec. 9, 2014.
4. The U.S. and Republic of Moldova sign agreement to implement FATCA. According to the Treasury Department, the U.S. and Republic of Moldova signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) on Nov. 26, 2014.
5. The U.S. and Turks and Caicos Islands sign agreement to implement FATCA. According to the Treasury Department, the U.S. and Turks and Caicos Islands signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) on Dec. 1, 2014.

IGAs allow government-to-government sharing of information on U.S.-owned accounts in foreign banks under FATCA. Without the accords, financial institutions would be faced with direct reporting to the IRS

Do You Have Unreported Foreign Income?

Is Your Foreign Account in

Any of the Countries Mentioned Below?

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See Below For Types of FATCA Agreements Signed

By Each Country and Links to the Actual Agreements.

The following jurisdictions are treated as having an intergovernmental agreement in effect (scroll down for a list of jurisdictions with agreements in substance):

Jurisdictions that have signed agreements:

Model 1 IGA

• Australia (4-28-2014)
• Bahamas (11-3-2014)
• Barbados (11-17-2014)
• Belgium (4-23-2014)
• Brazil (9-23-2014)
• British Virgin Islands (6-30-2014)
• Bulgaria (12-5-2014)
• Canada (2-5-2014)
• Cayman Islands (11-29-2013)
• Costa Rica (11-26-2013)
• Curaçao (12-16-2014)
• Cyprus (12-2-2014)
• Czech Republic (8-4-2014)
• Denmark (11-19-2012)
• Estonia (4-11-2014)
• Finland (3-5-2014)
• France (11-14-2013)
• Germany (5-31-2013)
• Gibraltar (5-8-2014)
• Guernsey (12-13-2013)
• Hungary (2-4-2014)
• Honduras (3-31-2014)
• Ireland (1-23-2013)
• Isle of Man (12-13-2013)
• Israel (6-30-2014)
• Italy (1-10-2014)
• Jamaica (5-1-2014)
• Jersey (12-13-2013)
• Latvia (6-27-2014)
• Liechtenstein (5-19-2014) 
• Lithuania (8-26-2014)
• Luxembourg (3-28-2014)
• Malta (12-16-2013)
• Mauritius (12-27-2013)
• Mexico (4-9-2014)
• Netherlands (12-18-2013)
• New Zealand (6-12-2014)
• Norway (4-15-2013)
• Poland (10-7-2014)
• Qatar (1-7-2015)
• Singapore (12-9-2014)
• South Africa (6-9-2014)
• Spain (5-14-2013)
• Slovenia (6-2-2014)
• Sweden (8-8-2014)
• United Kingdom (9-12-2012)
• Turks and Caicos Islands (12-1-2014)

Model 2 IGA

• Austria (4-29-2014)
• Bermuda (12-19-2013)
• Chile (3-5-2014)
• Hong Kong (11-13-2014)
• Japan (6-11-2013)
• Moldova (11-26-2014)
• Switzerland (2-14-2013)

Jurisdictions that have reached agreements in substance as of June 30, 2014 and have consented to being included on this list (beginning on the date indicated in parenthesis):

Model 1 IGA

• Algeria (6-30-2014)
• Anguilla (6-30-2014)
• Antigua and Barbuda (6-3-2014)
• Azerbaijan (5-16-2014)
• Bahrain (6-30-2014)
• Belarus (6-6-2014)
• Cabo Verde (6-30-2014)
• China (6-26-2014)
• Colombia (4-23-2014)
• Croatia (4-2-2014)
• Dominica (6-19-2014)
• Dominican Republic (6-30-2014)
• Georgia (6-12-201)
• Greenland (6-29-2014)
• Grenada (6-16-2014)
• Guyana (6-24-2014)
• Haiti (6-30-2014)
• India (4-11-2014)
• Indonesia (5-4-2014)
• Kosovo (4-2-2014)
• Kuwait (5-1-2014)
• Malaysia (6-30-2014)
• Montenegro (6-30-2014)
• Panama (5-1-2014)
• Peru (5-1-2014)
• Portugal (4-2-2014)
• Romania (4-2-2014)
• St. Kitts and Nevis (6-4-2014)
• St. Lucia (6-12-2014)
• St. Vincent and the Grenadines (6-2-2014)
• Saudi Arabia (6-24-2014)
• Serbia (6-30-2014)
• Seychelles (5-28-2014)
• Slovak Republic (4-11-2014)
• South Korea (4-2-2014)
• Thailand (6-24-2014)
• Turkey (6-3-2014)
• Turkmenistan (6-3-2014)
• Ukraine (6-26-2014)
• United Arab Emirates (5-21-2014)
• Uzbekistan (6-30-2014)

Model 2 IGA

• Armenia (5-8-2014)
• Iraq (6-30-2014)
• Nicaragua (6-30-2014)
• Paraguay (6-6-2014)
• San Marino (6-30-2014)
• Taiwan (6-23-2014)*

*Consistent with the Taiwan Relations Act, the parties to the agreement would be the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States.

Jurisdictions that have reached agreements in substance as of November 30, 2014 and have consented to being included on this list (beginning on the date indicated in parenthesis):

Model 1 IGA

• Angola (11-30-2014)
• Cambodia (11-30-2014)
• Greece (11-30-2014)
• Holy See (11-30-2014)
• Iceland (11-30-2014)
• Kazakhstan (11-30-2014)
• Montserrat (11-30-2014)
• Philippines (11-30-2014)
• Trinidad and Tobago (11-30-2014)
• Tunisia (11-30-2014)

Model 2 IGA

• Macao (11-30-2014)