FATCA requires foreign financial institutions (IFFs) to report to the IRS information about financial accounts held by U.S. taxpayers or foreign companies in which U.S. taxpayers have a substantial stake. UFF are encouraged to register directly with the IRS to comply with FATCA regulations (and, where applicable, the FFI Agreement) or to comply with FATCA Intergovernmental Agreements (IGAs), which are considered valid in their jurisdictions. To access FATCA`s FATCA regulations and administrative guidelines, and to learn more about taxpayers` obligations, please visit the Internal Revenue Service`s FATCA page. An intergovernmental agreement (AGREEMENT) is an agreement that involves or is concluded between two or more governments in cooperation to solve problems of mutual interest. Intergovernmental agreements may be entered into between or between a wide range of governmental or quasi-governmental agencies. Developing an intergovernmental agreement can be challenging, and this guide provides an overview of the process, when and how they are used, frequently asked questions, and provides examples of state-wide agreements. Check out more examples from Colorado in the list below. An agreement to establish and support the Australian Digital Health Agency and gradually transform the way health information is used to plan, manage and deliver health services through the implementation of a world-class digital health capacity in Australia. An agreement establishing a national regulatory system for all heavy-duty vehicles over 4.5 tonnes, consisting of uniform laws managed by a single national regulatory authority.
The development of intergovernmental agreements (IGCA) to implement tax reporting and withholding tax procedures related to fatcas will continue. The U.S. Department of the Treasury has issued model agreements on the implementation of FATCA. . . .