List of financial institutions that submit client information to IRS of USA

30.05.2014

Revenue Service of USA for the first time published full list of financial institutions, which follow FATCA rules. All financial institutions that must submit account information to U.S. IRS are on the list.

The list is a search server with convenient interface. User shall by himself find the financial institution in those countries that concluded intergovernmental agreements on FATC with USA.

Status of financial institutions mentioned in the list was affirmed by IRS as for the 23^rd of May, 2014.

Source: http://www.irs.gov/Businesses/Corporations/FATCA-Foreign-Financial-Institution-List-Search-and-Download-Tool

Expert’s opinion

USA does not stop its aggressive and control-over-everything policy. More and more countries are joining FATCA – and they are not only European jurisdictions. FATCA came to Australia (http://hbcomp.ru/about/news_and_mailings/news_jurisdictions/4016/) and Singapore (http://hbcomp.ru/about/news_and_mailings/news_jurisdictions/4017/), and it is probably not the limit.

Bow USA is trying to create efficient working mechanism, that will enforce FATCA provisions in real life. And for now it will be very difficult for citizens of USA to open accounts in foreign banks.

Alexandra Mihno ( Lawyer, Honest&Bright)