On September 18, the IRS issued Notice 2015-66 which provides that Foreign Financial Institutions (FFIs) in countries with "Model 1" Intergovenmental Agreements (IGAs) will be treated as FATCA compliant, and not subject to FATCA withholding by the IRS, if those jurisdictions notify the IRS before September 30 of this year that they require more time to put their systems in...
FATCA
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As a non-partisan organization representing the interests of all overseas Americans, FAWCO supports all efforts to eliminate or alleviate the damaging effects of FATCA. Since the very early days of FATCA, FAWCO has supported the “safe harbor” concept, which would eliminate the accounts held by overseas taxpayers in the country where they are fiscally domiciled from FATCA reporting. FAWCO's concern...
