The Foreign Account Tax Compliance Act (FATCA) requires certain U.S. taxpayers holding financial assets outside the country to report those assets to the IRS.

Aug 21, 2025 · What Is FATCA? Signed into law in 2010, the Foreign Account Tax Compliance Act (FATCA) aims to curb tax evasion by U.S. citizens through their foreign financial assets.

FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial …

FATCA is used by government personnel to detect indicia of U.S. persons and their assets and to enable cross-checking where assets have been self-reported by individuals to the IRS or to the …

FATCA stands for the Foreign Account Tax Compliance Act. FATCA is part of the U.S. HIRE Act, signed into law on March 18th, 2010 by President Obama. Virtually every financial institution in the world is …

Dec 8, 2025 · FATCA penalties explained: what happens if you file late, types of fines and penalties, IRS enforcement, and ways to get back into compliance.

Oct 10, 2025 · FATCA is the acronym for the Foreign Account Tax Compliance Act, a US legislation enacted in 2010 to prevent offshore tax evasion by increasing transparency around foreign financial …

Jul 15, 2022 · FATCA aimed to reduce noncompliance by requiring certain U.S. taxpayers with assets outside the United States to report those assets to the Internal Revenue Service (IRS) and placing …

Jan 11, 2024 · The Foreign Account Tax Compliance Act (FATCA) is an important facet of the United States’ actions to combat global tax evasion. Under FATCA, certain US taxpayers and foreign …

The Foreign Account Tax Compliance Act (FATCA) is an important development in U.S. efforts to combat tax evasion by U.S. persons holding accounts and other financial assets offshore.