FATCA/CRS

US and Curacao sign Model 1 FATCA IGA

January 12, 2015

The US Treasury Department has updated its FATCA website, reporting that Curacao has signed a Model 1 intergovernmental agreement (IGA) with the United States as of December 16, 2014. The text of the agreement is available. See, agreement.

FATCA challenged in Canadian court and United Nations

August 13, 2014

Two Canadian-U.S. dual citizens, on August 11, filed suit in the Federal Court of Canada challenging the constitutionality of the intergovernmental agreement signed by the U.S. and Canada that implements FATCA. The lawsuit, funded by the Alliance for the Defense of Canadian Sovereignty (ADCS), alleges that the intergovernmental agreement violates provisions of the Canadian Charter of Rights and Freedoms . . .

US and Uzbekistan agree in substance on Model 1 FATCA IGA

July 7, 2014

Us Treasury Department has updated its FATCA website, reporting that Uzbekistan has reached an “agreement in substance” on a Model 1 intergovernmental agreement (IGA) with the United States and consented to this status as of June 30.

U.S. and Haiti agree in substance on FATCA IGA

July 1, 2014

U.S. Treasury Department has updated its FATCA website, reporting that Haiti has reached an “agreement in substance” on a Model 1 intergovernmental agreement (IGA) with the United States and consented to this status as of June

UAE set to sign FATCA Model 1 IGA

February 16, 2015

The United Arab Emirates will complete and sign a Model 1 FATCA IGA this month and will send the agreement electronically to the US IRS in September 2015, UAE HE Younis Haji Al Khoori, Undersecretary of the Ministry of Finance told reporters February 15. The UAE had reached an agreement . . .

Singapore and US sign Model 1 FATCA IGA

December 11, 2014

Singapore and the US on December 9 signed a FATCA Model 1 Intergovernmental Agreement (IGA), following the initialing of the agreement May 5, the Inland Revenue Authority of Singapore has announced. The IGA is designed to simplify FATCA information reporting for Singapore financial institutions.  See, Singapore release

US IRS notes new Form1042-S on FATCA website

November 3, 2014

The US IRS on October 15 posted a "recent development" to the TY2014 Instructions for Form 1042-S, as follows: "The 2014 Form 1042-S posted to IRS.gov on 04/02/2014 supersedes the 2014 Form 1042-S posted to IRS.gov on 03/12/2014. We are re-posting this form to correct the formatting of the recipient's address in order to facilitate the mailing of this form to taxpayers." See, FATCA website.
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