101 Countries Sign Up For FATCA Network
Foreign Account Tax Compliance Act (FATCA) has been in force for a month and still more countries are joining the tax network.
So far, 101 countries and financial jurisdictions have either signed or agreed to join FATCA.
FATCA is aimed at identifying US taxpayers with offshore bank accounts and investments.
Overseas tax authorities and financial institutions identify their accounts with a balance of more than $50,000 controlled by US customers and send the customer information to the Internal Revenue Service (IRS).
The IRS then compares the information with personal tax returns to make sure the taxpayers has declared their overseas earnings in full and paid the correct amount of tax.
FATCA enforcement started from July 1, 2014.
This is the latest list of countries and financial jurisdictions sending FATCA data to the IRS:
FATCA Tax Network Members – August 1, 2014
| Jursidiction | FATCA status | IGA category |
|---|---|---|
| Algeria (6-30-2014) | Agreed to join | Model1 IGA |
| Anguilla (6-30-2014) | Agreed to join | Model1 IGA |
| Antigua and Barbuda (6-3-2014) | Agreed to join | Model1 IGA |
| Armenia (5-8-2014) | Agreed to join | Model 2 IGA |
| Australia (4-28-2014) | Joined | Model1 IGA |
| Austria (4-29-2014) | Joined | Model2 IGA |
| Azerbaijan (5-16-2014) | Agreed to join | Model1 IGA |
| Bahamas (4-17-2014) | Agreed to join | Model1 IGA |
| Bahrain (6-30-2014) | Agreed to join | Model1 IGA |
| Barbados (5-27-2014) | Agreed to join | Model1 IGA |
| Belarus (6-6-2014) | Agreed to join | Model1 IGA |
| Belgium (4-23-2014) | Joined | Model1 IGA |
| Bermuda (12-19-2013) | Joined | Model2 IGA |
| Brazil (4-2-2014) | Agreed to join | Model1 IGA |
| British Virgin Islands (6-30-2014) | Joined | Model1 IGA |
| Bulgaria (4-23-2014) | Agreed to join | Model1 IGA |
| Cabo Verde (6-30-2014) | Agreed to join | Model1 IGA |
| Canada (2-5-2014) | Joined | Model1 IGA |
| Cayman Islands (11-29-2013) | Joined | Model1 IGA |
| Chile (3-5-2014) | Joined | Model2 IGA |
| China (6-26-2014) | Agreed to join | Model1 IGA |
| Colombia (4-23-2014) | Agreed to join | Model1 IGA |
| Costa Rica (11-26-2013) | Joined | Model1 IGA |
| Croatia (4-2-2014) | Agreed to join | Model1 IGA |
| Curaçao (4-30-2014) | Agreed to join | Model1 IGA |
| Cyprus (4-22-2014) | Agreed to join | Model1 IGA |
| Czech Republic (4-2-2014) | Agreed to join | Model1 IGA |
| Denmark (11-19-2012) | Joined | Model1 IGA |
| Dominica (6-19-2014) | Agreed to join | Model1 IGA |
| Dominican Republic (6-30-2014) | Agreed to join | Model1 IGA |
| Estonia (4-11-2014) | Joined | Model1 IGA |
| Finland (3-5-2014) | Joined | Model1 IGA |
| France (11-14-2013) | Joined | Model1 IGA |
| Georgia (6-12-201) | Agreed to join | Model1 IGA |
| Germany (5-31-2013) | Joined | Model1 IGA |
| Gibraltar (5-8-2014) | Joined | Model1 IGA |
| Greenland (6-29-2014) | Agreed to join | Model1 IGA |
| Grenada (6-16-2014) | Agreed to join | Model1 IGA |
| Guernsey (12-13-2013) | Joined | Model1 IGA |
| Guyana (6-24-2014) | Agreed to join | Model1 IGA |
| Haiti (6-30-2014) | Agreed to join | Model1 IGA |
| Honduras (3-31-2014) | Joined | Model1 IGA |
| Hong Kong (5-9-2014) | Agreed to join | Model 2 IGA |
| Hungary (2-4-2014) | Joined | Model1 IGA |
| India (4-11-2014) | Agreed to join | Model1 IGA |
| Indonesia (5-4-2014) | Agreed to join | Model1 IGA |
| Iraq (6-30-2014) | Agreed to join | Model 2 IGA |
| Ireland (1-23-2013) | Joined | Model1 IGA |
| Isle of Man (12-13-2013) | Joined | Model1 IGA |
| Israel (6-30-2014) | Joined | Model1 IGA |
| Italy (1-10-2014) | Joined | Model1 IGA |
| Jamaica (5-1-2014) | Joined | Model1 IGA |
| Japan (6-11-2013) | Joined | Model2 IGA |
| Jersey (12-13-2013) | Joined | Model1 IGA |
| Kosovo (4-2-2014) | Agreed to join | Model1 IGA |
| Kuwait (5-1-2014) | Agreed to join | Model1 IGA |
| Latvia (6-27-2014) | Joined | Model1 IGA |
| Liechtenstein (5-19-2014) | Joined | Model1 IGA |
| Lithuania (4-2-2014) | Agreed to join | Model1 IGA |
| Luxembourg (3-28-2014) | Joined | Model1 IGA |
| Malaysia (6-30-2014) | Agreed to join | Model1 IGA |
| Malta (12-16-2013) | Joined | Model1 IGA |
| Mauritius (12-27-2013) | Joined | Model1 IGA |
| Mexico (4-9-2014) | Joined | Model1 IGA |
| Moldova (6-30-2014) | Agreed to join | Model 2 IGA |
| Montenegro (6-30-2014) | Agreed to join | Model1 IGA |
| Netherlands (12-18-2013) | Joined | Model1 IGA |
| New Zealand (6-12-2014) | Joined | Model1 IGA |
| Nicaragua (6-30-2014) | Agreed to join | Model 2 IGA |
| Norway (4-15-2013) | Joined | Model1 IGA |
| Panama (5-1-2014) | Agreed to join | Model1 IGA |
| Paraguay (6-6-2014) | Agreed to join | Model 2 IGA |
| Peru (5-1-2014) | Agreed to join | Model1 IGA |
| Poland (4-2-2014) | Agreed to join | Model1 IGA |
| Portugal (4-2-2014) | Agreed to join | Model1 IGA |
| Qatar (4-2-2014) | Agreed to join | Model1 IGA |
| Romania (4-2-2014) | Agreed to join | Model1 IGA |
| San Marino (6-30-2014) | Agreed to join | Model 2 IGA |
| Saudi Arabia (6-24-2014) | Agreed to join | Model1 IGA |
| Serbia (6-30-2014) | Agreed to join | Model1 IGA |
| Seychelles (5-28-2014) | Agreed to join | Model1 IGA |
| Singapore (5-5-2014) | Agreed to join | Model1 IGA |
| Slovak Republic (4-11-2014) | Agreed to join | Model1 IGA |
| Slovenia (6-2-2014) | Joined | Model1 IGA |
| South Africa (6-9-2014) | Joined | Model1 IGA |
| South Korea (4-2-2014) | Agreed to join | Model1 IGA |
| Spain (5-14-2013) | Joined | Model1 IGA |
| St. Kitts and Nevis (6-4-2014) | Agreed to join | Model1 IGA |
| St. Lucia (6-12-2014) | Agreed to join | Model1 IGA |
| St. Vincent and the Grenadines (6-2-2014) | Agreed to join | Model1 IGA |
| Sweden (4-24-2014) | Agreed to join | Model1 IGA |
| Switzerland (2-14-2013) | Joined | Model2 IGA |
| Taiwan (6-23-2014) | Agreed to join | Model 2 IGA |
| Thailand (6-24-2014) | Agreed to join | Model1 IGA |
| Turkey (6-3-2014) | Agreed to join | Model1 IGA |
| Turkmenistan (6-3-2014) | Agreed to join | Model1 IGA |
| Turks and Caicos Islands (5-12-2014) | Agreed to join | Model1 IGA |
| Ukraine (6-26-2014) | Agreed to join | Model1 IGA |
| United Arab Emirates (5-21-2014) | Agreed to join | Model1 IGA |
| United Kingdom (9-12-2012) | Joined | Model1 IGA |
| Uzbekistan (6-30-2014) | Agreed to join | Model1 IGA |
I as well as my pals were found to be going through the nice setcres found on your web site then quickly came up with an awful suspicion I never thanked the site owner for those tips. All the boys were definitely as a result happy to study all of them and have in effect extremely been tapping into those things. We appreciate you turning out to be quite thoughtful and also for using such terrific subject matter millions of individuals are really desirous to be informed on. My sincere apologies for not expressing appreciation to you sooner.
Thank you for appreciation, it is very valuable for us.