Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

IRS list of IGA Countries revised last night

Posted by William Byrnes on June 24, 2014


FATCA & CRS Training. Advice. Consultancy.

We have but seven days until July 1, 2014 – when FATCA goes live.

You might well expect that there would be a plethora of freshly negotiated IGAs. On the evening of June 23rd the IRS released its updated list of countries that can be treated as having an IGA for FATCA purposes.

The only difference between the list of June 23 and June 13 was that Taiwan has been added to the list of IGAs agreed in substance.

Perhaps the news is that the momentum on the IGAs is slowing down.

Only 7% of the 77K who qualified for the June 1 list are from Non Inter Governmental Agreement Countries.

One might conclude that there are many FFIs in Non Inter Governmental Agreement Countries yet to register.

This is interesting because 162 (or 167 depending on how this is defined) jurisdictions have no IGA with the US Treasury, either signed…

View original post 1,732 more words

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