Global Tax Insights
FATCA Jurisdictions and their Intergovernmental AgreementsFebruary 02, 2015
Countries with intergovernmental agreements (IGAs) under FATCA.
In accordance with the Foreign Account Tax Compliance Act (FATCA), several countries have adopted intergovernmental agreements (IGA) to make it easier to comply with FATCA regulations.
Model 1 IGA
Model 1 IGAs require Foreign Financial Institutions (FFIs) to report all FATCA concerned information to their own governmental agencies. Countries that have signed this type of IGA include:
- South Africa
- United Kingdom
Model 2 IGA
Model 2 IGAs require FFIs to report FATCA concerned information directly to the IRS. Countries that have signed this type of IGA include:
- Hong Kong
For a complete list of countries and dates they signed their IGAs, read our article, “Jurisdictions with FATCA intergovernmental agreements”