FATCA List – March 01, 2015
The list of international financial institutions signing up to comply with the US Foreign Account Tax Compliance Act (FATCA) is still growing.
Another 3,734 registered as FATCA compliant during March, taking the total number to 160,010 from 227 financial jurisdictions – up from 156,276 in February.
Every organisation listed has pledged to report the financial details of US resident taxpayers and US expats controlling bank accounts or investments to the IRS annually.
China and Russia have both seen more than 1,000 financial institutions each register under FATCA.
Russia threatened to stay outside the network, but later recanted and offered to sign a treaty with the US, which was declined as part of the West’s economic sanctions against Moscow due to the military incursion into the Ukraine and the annexation of The Crimea.
Tax compliance
Forcing Russia’s banks and financial institutions to individually sign up to FATCA rather than allowing them to report through the Moscow tax authority adds considerable costs to compliance.
China was also reluctant to join, but the government in Beijing realised efforts to make the yuan a world currency would be affected by non-compliance. Although not signing a direct treaty with Washington, the government is fully complying with FATCA.
Under FATCA, each financial institution on the list must tell the Internal Revenue Service (IRS) the financial details of each US resident with holding accounts or investments of $50,000 or more. The threshold is $200,000 for expats.
The next FATCA list is due for publication by the IRS on April 1, 2015.
FATCA List – April 1, 2015
COUNTRY FATCA REGISTRATIONS
CAYMAN ISLANDS 29040
UNITED KINGDOM 22741
LUXEMBOURG 7595
BRAZIL 5183
VIRGIN ISLANDS (BRITISH) 5176
GUERNSEY 4855
SWITZERLAND 4852
FRANCE 4441
JERSEY 4339
CANADA 4197
IRELAND 3966
GERMANY 3917
JAPAN 3654
NETHERLANDS 3289
AUSTRALIA 3235
AUSTRIA 3044
HONG KONG 2874
BERMUDA 2245
MAURITIUS 2135
GIBRALTAR 2062
SINGAPORE 1879
THAILAND 1506
SPAIN 1401
ITALY 1272
NEW ZEALAND 1256
RUSSIAN FEDERATION 1117
SOUTH KOREA 1077
CHINA 1021
ISLE OF MAN 1003
LIECHTENSTEIN 998
BAHAMAS 939
TAIWAN 885
MALTA 849
PANAMA 842
UNITED STATES 836
OTHER 833
CYPRUS 830
SOUTH AFRICA 750
INDIA 739
SWEDEN 721
ISRAEL 711
FINLAND 690
MEXICO 651
ARGENTINA 550
NORWAY 549
MALAYSIA 531
INDONESIA 470
POLAND 433
UNITED ARAB EMIRATES 414
CHILE 382
HUNGARY 376
DENMARK 362
BELGIUM 354
PORTUGAL 350
SAINT VINCENT AND THE GRENADINES 312
CURACAO 284
BELIZE 270
BAHRAIN 248
TURKEY 247
COLOMBIA 238
EGYPT 238
SAUDI ARABIA 235
CZECH REPUBLIC 223
PHILIPPINES 220
UKRAINE 217
KUWAIT 212
PERU 205
BULGARIA 183
BARBADOS 182
SAINT KITTS AND NEVIS 181
URUGUAY 169
SEYCHELLES 169
GREECE 161
LEBANON 159
ANGUILLA 152
VIET NAM 150
PAKISTAN 147
COSTA RICA 143
MOROCCO 143
MONACO 137
ROMANIA 135
COOK ISLANDS 133
DOMINICAN REPUBLIC 118
MARSHALL ISLANDS 116
KAZAKHSTAN 99
CAMBODIA 92
NIGERIA 92
BANGLADESH 90
SLOVAKIA 88
CROATIA 88
SAINT LUCIA 85
GUATEMALA 84
MACAO 84
TRINIDAD AND TOBAGO 81
TUNISIA 79
VENEZUELA, BOLIVARIAN REPUBLIC OF 79
KENYA 77
JORDAN 77
LIBERIA 74
TURKS AND CAICOS ISLANDS 72
BELARUS 72
QATAR 71
EL SALVADOR 71
AZERBAIJAN 70
SRI LANKA 66
IRAQ 63
SLOVENIA 61
JAMAICA 57
LATVIA 57
SAMOA 55
GHANA 54
HONDURAS 53
BOSNIA AND HERZEGOVINA 49
SERBIA 47
NAMIBIA 45
ESTONIA 43
ANTIGUA AND BARBUDA 41
BOLIVIA 39
PARAGUAY 39
LITHUANIA 39
NEPAL 37
ECUADOR 36
ARMENIA 36
WEST BANK AND GAZA 35
ANDORRA 35
OMAN 34
GRENADA 33
COTE D’IVOIRE 33
BOTSWANA 32
TAJIKISTAN 32
TANZANIA 31
MOLDOVA 30
KYRGYZSTAN 30
GEORGIA 30
UGANDA 29
MACEDONIA 27
ANGOLA 27
BRUNEI DARUSSALAM 25
ZAMBIA 24
DOMINICA 24
HAITI 23
ETHIOPIA 23
MYANMAR 23
MONGOLIA 23
SENEGAL 22
LAOS 22
ICELAND 22
NICARAGUA 21
ALBANIA 20
ARUBA 20
LIBYA 20
YEMEN 20
MOZAMBIQUE 19
RWANDA 18
SINT MAARTEN (DUTCH PART) 18
CAMEROON 18
SAN MARINO 18
DEMOCRATIC REPUBLIC OF THE CONGO18
BRITISH INDIAN OCEAN TERRITORY 16
BENIN 16
CAPE VERDE 16
MAURITANIA 15
GAMBIA 14
MALAWI 13
MONTENEGRO 13
AFGHANISTAN 13
TURKMENISTAN 12
MALI 12
MONTSERRAT 12
BONAIRE, SINT EUSTATIUS AND SABA 12
GUINEA 12
ZIMBABWE 12
SWAZILAND 12
GUYANA 11
VANUATU 11
SURINAME 11
TOGO 11
SIERRA LEONE 10
BURUNDI 10
GABON 9
BURKINA FASO 9
MADAGASCAR 9
SOUTH SUDAN 8
UZBEKISTAN 8
SUDAN 8
CONGO 7
MALDIVES 7
SAO TOME AND PRINCIPE 7
NIGER 7
CENTRAL AFRICAN REPUBLIC 6
EQUATORIAL GUINEA 6
ALGERIA 6
FIJI 6
LESOTHO 6
NEW CALEDONIA 5
PAPUA NEW GUINEA 5
CHAD 5
FRENCH POLYNESIA 4
SOLOMON ISLANDS 4
COMOROS 4
PUERTO RICO 4
GUAM 4
DJIBOUTI 4
TIMOR-LESTE 3
BOUVET ISLAND 3
GREENLAND
TONGA 2
SAINT MARTIN (FRENCH PART)2
VIRGIN ISLANDS (US) 2
FRENCH SOUTHERN TERRITORIES 1
BHUTAN 1
HOLY SEE (VATICAN CITY STATE) 1
NORTH KOREA 1
ALAND ISLANDS 1
FEDERATED STATES OF MICRONESIA 1
SOMALIA 1
WALLIS AND FUTUNA 1
FALKLAND ISLANDS (MALVINAS) 1
KIRIBATI 1
NORTHERN MARIANA ISLANDS 1
GUINEA-BISSAU 1
GUADELOUPE 1
SAINT PIERRE AND MIQUELON1
REUNION 1
MARTINIQUE 1
UNITED STATES MINOR OUTLYING ISLANDS 1
PALAU 1
Grand Total 160010
FATCA List Top 30 – April 1, 2015
COUNTRY FATCA REGISTRATIONS
CAYMAN ISLANDS 29040
UNITED KINGDOM 22741
LUXEMBOURG 7595
BRAZIL 5183
VIRGIN ISLANDS (BRITISH) 5176
GUERNSEY 4855
SWITZERLAND 4852
FRANCE 4441
JERSEY 4339
CANADA 4197
IRELAND 3966
GERMANY 3917
JAPAN 3654
NETHERLANDS 3289
AUSTRALIA 3235
AUSTRIA 3044
HONG KONG 2874
BERMUDA 2245
MAURITIUS 2135
GIBRALTAR 2062
SINGAPORE 1879
THAILAND 1506
SPAIN 1401
ITALY 1272
NEW ZEALAND 1256
RUSSIAN FEDERATION 1117
SOUTH KOREA 1077
CHINA 1021
ISLE OF MAN 1003
Grand Total 134372
