Foreign Account Tax Compliance Act
On Jan. 17, 2013, the U.S. Treasury Department and IRS released final regulations for the Foreign Account Tax Compliance Act (FATCA). FATCA was enacted into law on March 18, 2010, to address the U.S. government's perception of widespread tax evasion by U.S. taxpayers that hold investments offshore.
The compliance challenge is now on. Refer to the FATCA Implementation Time Lines above for upcoming milestones and deadlines. Or download a copy of the time lines here.
Latest on FATCA
KPMG's TaxNewsFlash alerts provide summaries of the latest tax regulatory and legislative developments. The most recent FATCA-related alerts include:
- EU - Proposal for Expanded Automatic Exchange of Information
- Japan's Statement on Mutual Cooperation, Understanding
- Discussion of UK Draft Regulations, Draft Guidance Notes
- Text of Agreements with Spain, Germany
- Switzerland Signs Memorandum of Understanding on FATCA Interpretations
- UK Guidance, Draft Regulations to Implement Agreement
- Text of IGA with Germany
- Updated Annex to Model 1 and Model 2 IGAs
KPMG hosts webcasts and podcasts to help clients understand FATCA's complex and evolving rules. Replays include:
Learn What KPMG Can Do for You
With an extensive, multidisciplinary team of professionals with both FATCA and industry-related experience, KPMG is distinctly positioned to help you achieve compliance by the effective dates while maintaining business as usual.
Learn more about our services:
Get the simple facts on FATCA — Issues & Insights from KPMG
FATCA poses significant business challenges to financial services organizations, especially FFIs and U.S. withholding agents, and affect their business models. It also impacts their non-U.S. customers/clients, investors, and counterparties. Learn from KPMG professionals who examine regulations, technical guidance, and related matters.
- Industry Insights — What You Need to Know: Bankers, Insurers, Investment Managers
- FATCA Regs Responsive to Some, But Not All, Insurer Concerns
- FATCA: Technical Analysis and Implications for Insurers
- Current Status of U.S. Tax Treaties and International Tax Agreements (including FATCA IGAs)
- Detailed Analysis of Final Regulations released January 31, 2013
- FATCA Final Regulations in Booklet Form Download or order now!
- Survey of U.S. Withholding Agents on FATCA Preparedness
- Are You Ready?
- Detailed Analysis of Model I Intergovernmental Agreement
Want more? Enter "FATCA" in the search box above for a full list of items.
Quick link: IRS FATCA Website
- Browse KPMG Services
- Give Feedback
- Subscribe to RSS News Feeds
- Listen to Podcasts
- View Webcasts on Demand
- See Upcoming Events
Things You Can Do
Register for KPMGInstitutes.com
As part of the KPMG Institutes online community, you'll be able to participate in Webcasts, access premium content, post comments, rate research and provide valuable insight supporting critical business topics and industry issues.
KPMG Institutes Network
- KPMG Advisory Institute
- KPMG Audit Committee Institute
- KPMG Global Energy Institute
- KPMG Global Enterprise Institute
- KPMG Government Institute
- KPMG Healthcare & Life Sciences Institute
- KPMG IFRS Institute
- KPMG Shared Services and Outsourcing Institute
- KPMG Tax Governance Institute
- KPMG Financial Reporting Network
- KPMG TaxWatch