News & Analysis as of August 22, 2025

Financial Institutions

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The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers... more +

Understanding FATCA and Its Impact on Foreign Financial Institutions: Why Finding Financial Services as an American Abroad Can Be...

Hone Maxwell on 7/24/2025

As an American living abroad, you may have experienced firsthand the challenges of finding a financial institution willing to work with you. Whether it’s for opening a bank account, investing in local markets, securing a...more

Swiss sign Model 1 IGA with United States and resolve transition issues

Eversheds Sutherland (US) LLP on 7/19/2024

On June 27, 2024, Switzerland and the United States executed the Agreement between Switzerland and the United States of America to Improve International Tax Compliance and to Implement FATCA (New IGA), which will take effect...more

El Proyecto De Ley “FATCA Recíproca” Cambiará Las Reglas Del Juego

Foodman CPAs & Advisors on 5/25/2022

Bajo el concepto de “FATCA recíproca”, las instituciones financieras y los corredores deben comenzar a prepararse para asumir mayores y más amplias responsabilidades de reportaje. Como partes interesadas de FATCA, las...more

Questions FIs Should Ask External FATCA and CRS Service Providers

Foodman CPAs & Advisors on 9/13/2021

OECD Guide Offers Financial Institutions Advice on Hiring External Service Organizations to Handle Compliance - While financial institutions (FIs) have final responsibility for compliance with the Foreign Account Tax...more

Tax Evasion - Nowhere Left to Hide

K&L Gates LLP on 10/28/2016

Global tax evasion remains a major problem for governments around the world. At a time when virtually all of the governments from the world’s major economies seek additional revenue, the attractiveness to taxpayers of...more

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