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Foreign Countries Sharing Offshore Bank & Brokerage Info to US
Foreign Countries Sharing Offshore Bank & Brokerage Information
Each year, more than 110 foreign countries and hundreds of thousands of foreign financial institutions report US account holder bank and brokerage information to the US government and Internal Revenue Service for the purposes are twofold: it is to make sure that US persons are probably reporting their foreign assets, accounts, and investments on various international information reporting forms such as the FBAR and Form 8938 – and to ensure that all income is disclosed. To learn the specifics about whether a certain institution reports from a specific country, you can refer to the online IRS FATCA (Foreign Account Tax Compliance Act) tool provided by the Internal Revenue Service. Here is a summary list of the different foreign bank account reporting countries.
As provided by the IRS:
Foreign Account Tax Compliance Act
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FATCA was enacted in 2010 by Congress to target non-compliance by U.S. taxpayers using foreign accounts.
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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. FFIs are encouraged to either directly register with the IRS to comply with the FATCA regulations (and FFI agreement, if applicable) or comply with the FATCA Intergovernmental Agreements (IGA) treated as in effect in their jurisdictions. For access to the FATCA regulations and administrative guidance related to FATCA and to learn about taxpayer obligations please visit the Internal Revenue Service FATCA Page.
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Scroll down below the Table of FATCA Agreements and Understandings by Jurisdiction to find a list of Model Intergovernmental Agreements and assorted additional statements related to FATCA and its implementation.
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FATCA AGREEMENTS AND UNDERSTANDINGS BY JURISDICTION
| Jurisdiction | Status | Jurisdiction Status Intergovernmental Agreement (IGA) & Related Agreements, Arrangements, or Correction | Understandings | Date Jurisdiction is Treated as having an IGA in Effect | |
| Algeria | In Force (1-18-2017) | Model 1 | | 6-30-2014 | |
| Angola | In Force (10-2-2017) | Model 1 | | 11-30-2014 | |
| Anguilla |
|
Model 1 | | 6-30-2014 | |
| Antigua and Barbuda | In Force (6-7-2017) | Model 1 | | 6-30-2014 | |
| Argentina | In Force (1-1-2023) | Model 1 | Understanding | 1-1-2023 | |
| Armenia | In Force (7-7-2019) | Model 2 | | 6-30-2014 | |
| Australia | In Force (6-30-2014) | Model 1 | Understanding | 6-30-2014 | |
| Austria | In Force (12-9-2014) | Model 2 | Understanding | 6-30-2014 | |
| Azerbaijan | In Force (11-5-2015) | Model 1 | | 6-30-2014 | |
| Bahamas | In Force (9-17-2015) | Model 1 Correction |
| 6-30-2014 | |
| Bahrain | In Force (3-5-2018) | Model 1 | | 6-30-2014 | |
| Barbados | In Force (9-25-2015) | Model 1 Correction |
| 6-30-2014 | |
| Belarus | In Force (7-29-2015) | Model 1 | | 6-30-2014 | |
| Belgium | In Force (12-23-2016) | Model 1 Related Agreement |
Understanding | 6-30-2014 | |
| Bermuda | In Force (8-19-2014) | Model 2 | Understanding | 6-30-2014 | |
| Brazil | In Force (6-26-2015) | Model 1 | | 6-30-2014 | |
| British Virgin Islands | In Force (7-13-2015) | Model 1 | | 6-30-2014 | |
| Bulgaria | In Force (6-30-2015) | Model 1 | | 6-30-2014 | |
| Cabo Verde | Signed (3-30-2021) | Model 1 | | 6-30-2014 | |
| Cambodia | In Force (12-23-2016) | Model 1 | | 11-30-2014 | |
| Canada | In Force (6-27-2014) | Model 1 Related Agreement |
| 6-30-2014 | |
| Cayman Islands | In Force (7-1-2014) | Model 1 | | 6-30-2014 | |
| Chile | Signed | Model 2 | Understanding | 6-30-2014 | |
| China | Agreement in Substance | Model 1 | | 6-30-2014 | |
| Colombia | In Force (8-27-2015) | Model 1 | Understanding | 6-30-2014 | |
| Costa Rica | In Force (7-8-2019) | Model 1 Related Agreement 1 Related Agreement 2 |
| 6-30-2014 3-20-2019 8-24-2020 |
|
| Croatia | In Force (12-27-2016) | Model 1 Related Agreement |
| 6-30-2014 | |
| Curaçao | In Force (8-3-2016) | Model 1 Related Agreement |
| 6-30-2014 | |
| Cyprus | In Force (9-21-2015) | Model 1 | Understanding | 6-30-2014 | |
| Czech Republic | In Force (12-18-2014) | Model 1 | Understanding | 6-30-2014 | |
| Denmark | In Force (9-30-2015) | Model 1 | | 6-30-2014 | |
| Dominica | In Force (8-12-2019) | Model 1 | 6-30-2014 | ||
| Dominican Republic | In Force (7-17-2019) | Model 1 | | 6-30-2014 | |
| Estonia | In Force (7-9-2014) | Model 1 | | 6-30-2014 | |
| Finland | In Force (2-20-2015) | Model 1 | Understanding | 6-30-2014 | |
| France | In Force (10-14-2014) | Model 1 | Understanding | 6-30-2014 | |
| Georgia | In Force (9-18-2015) | Model 1 | | 6-30-2014 | |
| Germany | In Force (12-11-2013) | Model 1 | Understanding | 6-30-2014 | |
| Gibraltar | In Force (9-17-2015) | Model 1 | | 6-30-2014 | |
| Greece | In Force (12-13-2017) | Model 1 | Understanding | 11-30-2014 | |
| Greenland | In Force (11-30-2018) | Model 1 | | 6-30-2014 | |
| Grenada | In Force (4-6-2018) | Model 1 | | 6-30-2014 | |
| Guernsey | In Force (8-26-2015) | Model 1 | | 6-30-2014 | |
| Guyana | In Force (9-29-2017) | Model 1 | | 6-30-2014 | |
| Haiti | Agreement in Substance | Model 1 | | 6-30-2014 | |
| Holy See | In Force (6-10-2015) | Model 1 | | 11-30-2014 | |
| Honduras | In Force (2-19-2015) | Model 1 | | 6-30-2014 | |
| Hong Kong | In Force (7-6-2016) | Model 2 | Understanding | 6-30-2014 | |
| Hungary | In Force (7-16-2014) | Model 1 | Understanding 1 | 6-30-2014 | |
| Iceland | In Force (9-22-2015) | Model 1 | Understanding | 11-30-2014 | |
| India | In Force (8-31-2015) | Model 1 | Understanding | 6-30-2014 | |
| Indonesia | Agreement in Substance | Model 1 | | 6-30-2014 | |
| Iraq | Agreement in Substance | Model 2 | | 6-30-2014 | |
| Ireland | In Force (4-2-2014) | Model 1 Related Agreement |
| 6-30-2014 | |
| Isle of Man | In Force (8-26-2015) | Model 1 | | 6-30-2014 | |
| Israel | In Force (8-29-2016) | Model 1 Related Agreement |
Understanding | 6-30-2014 | |
| Italy | In Force (8-17-2015) | Model 1 | | 6-30-2014 | |
| Jamaica | In Force (9-24-2015) | Model 1 | | 6-30-2014 | |
| Japan | In Effect (6-11-2013) | Model 2 Related Arrangement |
| 6-30-2014 | |
| Jersey | In Force (10-28-2015) | Model 1 | | 6-30-2014 | |
| Kazakhstan | In Force (4-5-2022) | Model 1 | | 11-30-2014 | |
| Kosovo | In Force (11-4-2015) | Model 1 | | 6-30-2014 | |
| Kuwait | In Force (1-28-2016) | Model 1 | | 6-30-2014 | |
| Latvia | In Force (12-15-2014) | Model 1 | Understanding | 6-30-2014 | |
| Liechtenstein | In Force (1-22-2015) | Model 1 | Understanding | 6-30-2014 | |
| Lithuania | In Force (10-7-2014) | Model 1 | | 6-30-2014 | |
| Luxembourg | In Force (7-29-2015) | Model 1 Related Agreement |
Understanding | 6-30-2014 | |
| Macao | In Force (7-30-2021) | Model 2 | | 11-30-2014 | |
| Malaysia | In Force (10-3-2022) | Model 1 | | 6-30-2014 | |
| Malta | In Force (6-26-2014) | Model 1 | | 6-30-2014 | |
| Mauritius | In Force (8-29-2014) | Model 1 | | 6-30-2014 | |
| Mexico | In Force (4-10-2014) | Model 1 | | 6-30-2014 | |
| Moldova | In Force (1-21-2016) | Model 2 | | 6-30-2014 | |
| Montenegro | In Force (3-28-2018) | Model 1 | | 6-30-2014 | |
| Montserrat | In Force (10-28-2016) | Model 1 | | 11-30-2014 | |
| Netherlands | In Force (4-9-2015) | Model 1 Related Agreement |
Understanding | 6-30-2014 | |
| New Zealand | In Force (7-3-2014) | Model 1 | Understanding | 6-30-2014 | |
| Nicaragua | Agreement in Substance | Model 2 | | 6-30-2014 | |
| Norway | In Force (1-27-2014) | Model 1 | Understanding | 6-30-2014 | |
| Panama | In Force (10-25-2016) | Model 1 | | 6-30-2014 | |
| Paraguay | Agreement in Substance | Model 2 | | 6-30-2014 | |
| Peru | Agreement in Substance | Model 1 | | 6-30-2014 | |
| Philippines | Signed | Model 1 | | 11-30-2014 | |
| Poland | In Force (7-1-2015) | Model 1 Correction |
Understanding | 6-30-2014 | |
| Portugal | In Force (8-10-2016) | Model 1 | | 6-30-2014 | |
| Qatar | In Force (6-23-2015) | Model 1 | Understanding | 6-30-2014 | |
| Romania | In Force (11-3-2015) | Model 1 | | 6-30-2014 | |
| San Marino | In Force (8-30-2016) | Model 2 | Understanding | 6-30-2014 | |
| Saudi Arabia | In Force (2-28-2017) | Model 1 | Understanding | 6-30-2014 | |
| Serbia | In Force (1-8-2020) | Model 1 | | 6-30-2014 | |
| Seychelles | Signed | Model 1 | | 6-30-2014 | |
| Singapore | Superseded (in force 3-28-2015 to 12-31-2020)In Force (1-1-2021) |
Model 1 | | 6-30-2014 | |
| Slovak Republic | In Force (11-9-2015) | Model 1 | Understanding | 6-30-2014 | |
| Slovenia | In Force (7-1-2014) | Model 1 | | 6-30-2014 | |
| South Africa | In Force (10-28-2014) | Model 1 | Understanding | 6-30-2014 | |
| South Korea | In Force (9-8-2016) | Model 1 | Understanding | 6-30-2014 | |
| Spain | In Force (12-9-2013) | Model 1 | | 6-30-2014 | |
| St. Kitts and Nevis | In Force (4-28-2016) | Model 1 | | 6-30-2014 | |
| St. Lucia | In Force (9-1-2016) | Model 1 | | 6-30-2014 | |
| St. Vincent and the Grenadines | In Force (5-13-2016) | Model 1 | | 6-30-2014 | |
| Sweden | In Force (3-1-2015) | Model 1 | Understanding | 6-30-2014 | |
| Switzerland | In Force (6-2-2014) | Model 2 Related Agreement 1 Correction 1 Related Agreement 2 Correction 2 |
Understanding 1 Understanding 2 Understanding 3 |
6-30-2014 | |
| Taiwan* | Signed | Model 2 | | 6-30-2014 | |
| Thailand | Signed | Model 1 | | 6-30-2014 | |
| Trinidad and Tobago | In Force (9-22-2017) | Model 1 | | 11-30-2014 | |
| Tunisia | In Force (9-9-2019) | Model 1 | | 11-30-2014 | |
| Turkey | In Force (6-14-2021) | Model 1 | Understanding | 6-30-2014 | |
| Turkmenistan | In Force (11-6-2017) | Model 1 | | 6-30-2014 | |
| Turks and Caicos Islands | In Force (7-25-2016) | Model 1 | | 6-30-2014 | |
| Ukraine | In Force (11-18-2019) | Model 1 | | 6-30-2014 | |
| United Arab Emirates | In Force (2-19-2016) | Model 1 | Understanding | 6-30-2014 | |
| United Kingdom | In Force (8-11-2014) | Model 1 Related Agreement 1 Related Agreement 2 |
| 6-30-2014 | |
| Uzbekistan | In Force (7-7-2017) | Model 1 | | 6-30-2014 | |
| Vietnam | In Force (7-7-2016) | Model 1 | Understanding | 7-7-2016 | |
| TOTAL JURISDICTIONS | 113 | | | |
*Consistent with the Taiwan Relations Act, the parties to the agreement are the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States.
MODEL INTERGOVERNMENTAL AGREEMENTS
Following the enactment of FATCA, Treasury published the Model Intergovernmental Agreement to Improve Tax Compliance and to Implement FATCA.
Model Agreements for Jurisdictions that Reached an Agreement in Substance on or before June 30, 2014:
Model Agreements for Jurisdictions that Reached an Agreement in Substance on or after July 1, 2014:
ADDITIONAL FATCA STATEMENTS
Joint Statements:
Notification of More Favorable Terms:
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