(24) Foreign Account Tax Compliance Act (FATCA)
The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally requires that foreign financial Institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on withholdable payments. The HIRE Act also contained legislation requiring U.S. persons to report, depending on the value, their foreign financial accounts and foreign assets.
FFI List Search and Download Tool
Search and download a monthly list of approved foreign institutions that have a Global Intermediary Identification Number (GIIN).
Financial Institution Registration
Financial institutions can use the FATCA registration system to manage their accounts.
International Data Exchange Service (IDES)
Financial institutions and host country tax authorities can transmit and exchange FATCA data with the United States.