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Update on Jurisdictions Treated as Having an IGA in Effect and on FATCA Financial Institution Registration
On 02 April 2014 the IRS released Announcement 2014-17 which presents an extension for FFI’s wishing to be on the first published FFI list. Financial Institutions now have until 5 May 2014 to register on the IRS portal if they wish to be included on the first published FFI list on 2 June 2014.
Also as part of the Announcement, the IRS released a list of countries that do not have a signed Intergovernmental Agreement (IGA) with the US but will be treated as such for FATCA purposes.
The following jurisdictions are treated as having an intergovernmental agreement in effect.
Jurisdictions that have signed agreements:
Model 1 IGA
Model 2 IGA
Jurisdictions that have reached agreements in substance and have consented to being included on this list (beginning on the date indicated in parethesis):
Model 1 IGA
Model 2 IGA
Growth
Update on Jurisdictions Treated as Having an IGA in Effect and on FATCA Financial Institution Registration