FATCA Bilateral Data Exchange Country List

Introduction

The USA has concluded bilateral FATCA agreements (Foreign Account Tax Compliance Act) with a large number of countries worldwide. These agreements oblige foreign financial institutions to report information on accounts held by US citizens to the US tax authorities (IRS). In return, the IRS shares information about foreign citizens' accounts in the USA with the respective home countries. However, this regulation only applies to private accounts.

EU countries with FATCA agreement

Here is a list of the EU countries that have signed a FATCA agreement with the USA have completed:

• Belgium
• Germany (PDF - Fatca Agreement - from Bundestag Website)
• France
• Italy
• Spain
• Netherlands
• Austria
• Ireland
• Greece
• Portugal
• Finland
• Sweden
• Denmark
• Poland
• Czech republic
• Hungary
• Luxembourg
• Malta
• Cyprus
• Slovakia
• Estonia
• Latvia
• Lithuania
• Slovenia
• Croatia
• Bulgaria
• Romania

EU countries without a FATCA agreement

So far, there is no indication that an EU member state does not have a FATCA agreement with the USA has concluded. All EU countries have submitted to the requirements of FATCA in order to improve tax transparency and combat tax evasion.

US LLCs and business accounts are not affected!

US LLCs and business accounts of foreign citizens are not affected by the FATCA agreements, as these agreements only concern private accounts. US LLCs are considered separate legal entities and not foreign account holders.

FAQs

Which countries have concluded a FATCA agreement with the USA?
The USA has concluded FATCA agreements with many countries worldwide, including almost all EU member states.

Which accounts are affected by FATCA?
FATCA mainly affects private accounts of US citizens abroad.

Are US LLCs affected by FATCA?
No, US LLCs and business accounts of foreign citizens are not affected by FATCA.

Why is the USA not part of the CRS?
The USA has decided to use its own regulation, FATCA, instead of the global Common Reporting Standard (CRS) of the OECD to join.

How is information exchanged under FATCA?
Foreign financial institutions report information about U.S. citizen accounts to the IRS, and the IRS shares information about accounts foreign citizen in the USA with the respective home countries.

Which EU countries do not have a FATCA agreement?
To date, there are no EU countries without a FATCA agreement with the USA.