The US tax man has had a shake out of foreign financial institutions that have signed up to the Foreign Account Tax Compliance Act.
In October, 296,140 financial firms across 229 financial jurisdictions had signed up to deliver information about accounts and investments controlled by American customers.
The latest list shows a net 3,120 of these firms have lost their FATCA ‘approved’ status, taking the number of FATCA firms down to 293,020.
The IRS has not revealed why the registrations have been revoked.
The final list for 2017 is expected around Christmas.
The top 10 countries losing firms with registration
Country | Oct | Nov | Difference |
HONG KONG | 6720 | 5736 | -984 |
RUSSIAN FEDERATION | 1837 | 1233 | -604 |
BERMUDA | 4062 | 3494 | -568 |
SWITZERLAND | 6672 | 6127 | -545 |
ARGENTINA | 1447 | 1238 | -209 |
EGYPT | 317 | 168 | -149 |
AUSTRIA | 2876 | 2743 | -133 |
CHILE | 1197 | 1064 | -133 |
JAPAN | 20146 | 20014 | -132 |
BELIZE | 672 | 563 | -109 |
Source: IRS
The top 10 countries adding registrations
Country | Oct | Nov | Difference |
CAYMAN ISLANDS | 52778 | 53326 | 548 |
NETHERLANDS | 5699 | 6099 | 400 |
BRAZIL | 20908 | 21134 | 226 |
LUXEMBOURG | 12694 | 12880 | 186 |
VIRGIN ISLANDS (BRITISH) | 10878 | 11039 | 161 |
UNITED KINGDOM | 30681 | 30791 | 110 |
AUSTRALIA | 5779 | 5844 | 65 |
SPAIN | 3494 | 3542 | 48 |
FRANCE | 6774 | 6814 | 40 |
IRELAND | 6203 | 6242 | 39 |
Source: IRS
FATCA List November 2017
The full FATCA list for November 2017 with number of registrations was:
Country | Oct | Nov | Difference |
AFGHANISTAN | 22 | 13 | -9 |
ALAND ISLANDS | 1 | 1 | 0 |
ALBANIA | 25 | 21 | -4 |
ALGERIA | 25 | 25 | 0 |
ANDORRA | 153 | 150 | -3 |
ANGOLA | 62 | 63 | 1 |
ANGUILLA | 293 | 282 | -11 |
ANTIGUA AND BARBUDA | 46 | 45 | -1 |
ARGENTINA | 1447 | 1238 | -209 |
ARMENIA | 45 | 36 | -9 |
ARUBA | 26 | 15 | -11 |
AUSTRALIA | 5779 | 5844 | 65 |
AUSTRIA | 2876 | 2743 | -133 |
AZERBAIJAN | 71 | 71 | 0 |
BAHAMAS | 1711 | 1740 | 29 |
BAHRAIN | 276 | 271 | -5 |
BANGLADESH | 97 | 44 | -53 |
BARBADOS | 209 | 213 | 4 |
BELARUS | 73 | 73 | 0 |
BELGIUM | 380 | 389 | 9 |
BELIZE | 672 | 563 | -109 |
BENIN | 20 | 6 | -14 |
BERMUDA | 4062 | 3494 | -568 |
BHUTAN | 2 | 1 | -1 |
BOLIVIA, PLURINATIONAL STATE OF | 65 | 58 | -7 |
BONAIRE, SINT EUSTATIUS AND SABA | 13 | 7 | -6 |
BOSNIA AND HERZEGOVINA | 93 | 44 | -49 |
BOTSWANA | 41 | 32 | -9 |
BOUVET ISLAND | 3 | 3 | 0 |
BRAZIL | 20908 | 21134 | 226 |
BRITISH INDIAN OCEAN TERRITORY | 20 | 19 | -1 |
BRUNEI DARUSSALAM | 43 | 35 | -8 |
BULGARIA | 290 | 289 | -1 |
BURKINA FASO | 15 | 9 | -6 |
BURUNDI | 11 | 2 | -9 |
CAMBODIA | 115 | 114 | -1 |
CAMEROON | 19 | 11 | -8 |
CANADA | 10261 | 10295 | 34 |
CAPE VERDE | 16 | 16 | 0 |
CAYMAN ISLANDS | 52778 | 53326 | 548 |
CENTRAL AFRICAN REPUBLIC | 5 | 1 | -4 |
CHAD | 7 | 2 | -5 |
CHILE | 1197 | 1064 | -133 |
CHINA | 1720 | 1725 | 5 |
CHRISTMAS ISLAND | 1 | 1 | 0 |
COLOMBIA | 597 | 598 | 1 |
COMOROS | 7 | 4 | -3 |
CONGO | 12 | 5 | -7 |
CONGO, DEMOCRATIC REPUBLIC OF THE | 23 | 15 | -8 |
COOK ISLANDS | 163 | 140 | -23 |
COSTA RICA | 159 | 159 | 0 |
COTE D’IVOIRE | 48 | 27 | -21 |
CROATIA | 124 | 127 | 3 |
CURACAO | 403 | 400 | -3 |
CYPRUS | 1263 | 1286 | 23 |
CZECH REPUBLIC | 340 | 336 | -4 |
DENMARK | 710 | 737 | 27 |
DJIBOUTI | 12 | 5 | -7 |
DOMINICA | 35 | 33 | -2 |
DOMINICAN REPUBLIC | 139 | 139 | 0 |
ECUADOR | 199 | 179 | -20 |
EGYPT | 317 | 168 | -149 |
EL SALVADOR | 80 | 45 | -35 |
EQUATORIAL GUINEA | 9 | 3 | -6 |
ERITREA | 1 | 1 | 0 |
ESTONIA | 56 | 57 | 1 |
ETHIOPIA | 19 | 3 | -16 |
FALKLAND ISLANDS (MALVINAS) | 1 | 1 | 0 |
FAROE ISLANDS | 1 | 1 | 0 |
FIJI | 7 | 6 | -1 |
FINLAND | 1433 | 1435 | 2 |
FRANCE | 6774 | 6814 | 40 |
FRENCH POLYNESIA | 4 | 4 | 0 |
GABON | 12 | 3 | -9 |
GAMBIA | 17 | 6 | -11 |
GEORGIA | 49 | 50 | 1 |
GERMANY | 5239 | 5276 | 37 |
GHANA | 66 | 45 | -21 |
GIBRALTAR | 865 | 864 | -1 |
GREECE | 351 | 354 | 3 |
GREENLAND | 4 | 4 | 0 |
GRENADA | 36 | 36 | 0 |
GUAM | 5 | 4 | -1 |
GUATEMALA | 91 | 69 | -22 |
GUERNSEY | 7077 | 7100 | 23 |
GUINEA | 16 | 7 | -9 |
GUINEA-BISSAU | 4 | 1 | -3 |
GUYANA | 22 | 21 | -1 |
HAITI | 35 | 38 | 3 |
HOLY SEE (VATICAN CITY STATE) | 2 | 2 | 0 |
HONDURAS | 47 | 47 | 0 |
HONG KONG | 6720 | 5736 | -984 |
HUNGARY | 506 | 505 | -1 |
ICELAND | 46 | 45 | -1 |
INDIA | 2071 | 1982 | -89 |
INDONESIA | 814 | 815 | 1 |
IRAQ | 83 | 65 | -18 |
IRELAND | 6203 | 6242 | 39 |
ISLE OF MAN | 1448 | 1448 | 0 |
ISRAEL | 1608 | 1643 | 35 |
ITALY | 2993 | 3000 | 7 |
JAMAICA | 68 | 69 | 1 |
JAPAN | 20146 | 20014 | -132 |
JERSEY | 7230 | 7259 | 29 |
JORDAN | 103 | 57 | -46 |
KAZAKHSTAN | 110 | 111 | 1 |
KENYA | 122 | 86 | -36 |
KIRIBATI | 1 | 1 | 0 |
KOREA, REPUBLIC OF | 1153 | 1153 | 0 |
KOSOVO | 10 | 11 | 1 |
KUWAIT | 258 | 256 | -2 |
KYRGYZSTAN | 33 | 19 | -14 |
LAO PEOPLE’S DEMOCRATIC REPUBLIC | 34 | 23 | -11 |
LATVIA | 66 | 65 | -1 |
LEBANON | 201 | 164 | -37 |
LESOTHO | 13 | 6 | -7 |
LIBERIA | 132 | 115 | -17 |
LIBYA | 29 | 9 | -20 |
LIECHTENSTEIN | 1347 | 1348 | 1 |
LITHUANIA | 123 | 125 | 2 |
LUXEMBOURG | 12694 | 12880 | 186 |
MACAO | 86 | 77 | -9 |
MACEDONIA, THE FORMER YUGOSLAV REPUBLIC OF | 36 | 28 | -8 |
MADAGASCAR | 12 | 7 | -5 |
MALAWI | 19 | 6 | -13 |
MALAYSIA | 1442 | 1460 | 18 |
MALDIVES | 8 | 6 | -2 |
MALI | 17 | 7 | -10 |
MALTA | 1168 | 1184 | 16 |
MARSHALL ISLANDS | 267 | 244 | -23 |
MARTINIQUE | 1 | 1 | 0 |
MAURITANIA | 19 | 10 | -9 |
MAURITIUS | 4445 | 4473 | 28 |
MAYOTTE | 1 | 1 | 0 |
MEXICO | 2116 | 2088 | -28 |
MICRONESIA, FEDERATED STATES OF | 2 | 2 | 0 |
MOLDOVA, REPUBLIC OF | 30 | 15 | -15 |
MONACO | 170 | 138 | -32 |
MONGOLIA | 27 | 7 | -20 |
MONTENEGRO | 23 | 23 | 0 |
MONTSERRAT | 13 | 12 | -1 |
MOROCCO | 228 | 185 | -43 |
MOZAMBIQUE | 26 | 13 | -13 |
MYANMAR | 45 | 25 | -20 |
NAMIBIA | 88 | 72 | -16 |
NEPAL | 36 | 17 | -19 |
NETHERLANDS | 5699 | 6099 | 400 |
NEW CALEDONIA | 6 | 5 | -1 |
NEW ZEALAND | 2386 | 2402 | 16 |
NICARAGUA | 24 | 22 | -2 |
NIGER | 15 | 8 | -7 |
NIGERIA | 118 | 58 | -60 |
NORTHERN MARIANA ISLANDS | 1 | 1 | 0 |
NORWAY | 1110 | 1117 | 7 |
OMAN | 55 | 44 | -11 |
OTHER | 605 | 518 | -87 |
PAKISTAN | 339 | 253 | -86 |
PALAU | 1 | 1 | 0 |
PANAMA | 1965 | 1929 | -36 |
PAPUA NEW GUINEA | 5 | 4 | -1 |
PARAGUAY | 44 | 34 | -10 |
PERU | 450 | 452 | 2 |
PHILIPPINES | 288 | 288 | 0 |
POLAND | 1445 | 1473 | 28 |
PORTUGAL | 402 | 399 | -3 |
PUERTO RICO | 3 | 3 | 0 |
QATAR | 80 | 78 | -2 |
ROMANIA | 231 | 236 | 5 |
RUSSIAN FEDERATION | 1837 | 1233 | -604 |
RWANDA | 23 | 12 | -11 |
SAINT KITTS AND NEVIS | 433 | 432 | -1 |
SAINT LUCIA | 121 | 112 | -9 |
SAINT MARTIN (FRENCH PART) | 3 | 1 | -2 |
SAINT PIERRE AND MIQUELON | 3 | 2 | -1 |
SAINT VINCENT AND THE GRENADINES | 459 | 459 | 0 |
SAMOA | 110 | 83 | -27 |
SAN MARINO | 20 | 17 | -3 |
SAO TOME AND PRINCIPE | 7 | 1 | -6 |
SAUDI ARABIA | 336 | 337 | 1 |
SENEGAL | 32 | 15 | -17 |
SERBIA | 61 | 62 | 1 |
SEYCHELLES | 348 | 340 | -8 |
SIERRA LEONE | 12 | 5 | -7 |
SINGAPORE | 3048 | 3063 | 15 |
SINT MAARTEN (DUTCH PART) | 21 | 12 | -9 |
SLOVAKIA | 138 | 137 | -1 |
SLOVENIA | 178 | 177 | -1 |
SOLOMON ISLANDS | 5 | 4 | -1 |
SOMALIA | 4 | 3 | -1 |
SOUTH AFRICA | 1597 | 1583 | -14 |
SOUTH SUDAN | 9 | 4 | -5 |
SPAIN | 3494 | 3542 | 48 |
SRI LANKA | 85 | 62 | -23 |
SUDAN | 36 | 34 | -2 |
SURINAME | 12 | 7 | -5 |
SWAZILAND | 18 | 17 | -1 |
SWEDEN | 1420 | 1425 | 5 |
SWITZERLAND | 6672 | 6127 | -545 |
SYRIAN ARAB REPUBLIC | 7 | 8 | 1 |
TAIWAN | 1790 | 1734 | -56 |
TAJIKISTAN | 43 | 14 | -29 |
TANZANIA, UNITED REPUBLIC OF | 45 | 26 | -19 |
THAILAND | 3175 | 3210 | 35 |
TIMOR-LESTE | 6 | 5 | -1 |
TOGO | 15 | 7 | -8 |
TONGA | 5 | 3 | -2 |
TRINIDAD AND TOBAGO | 103 | 89 | -14 |
TUNISIA | 146 | 155 | 9 |
TURKEY | 471 | 467 | -4 |
TURKMENISTAN | 13 | 13 | 0 |
TURKS AND CAICOS ISLANDS | 108 | 106 | -2 |
UGANDA | 42 | 23 | -19 |
UKRAINE | 528 | 530 | 2 |
UNITED ARAB EMIRATES | 642 | 630 | -12 |
UNITED KINGDOM | 30681 | 30791 | 110 |
UNITED STATES | 1212 | 1235 | 23 |
UNITED STATES MINOR OUTLYING ISLANDS | 9 | 9 | 0 |
URUGUAY | 270 | 214 | -56 |
UZBEKISTAN | 28 | 28 | 0 |
VANUATU | 84 | 73 | -11 |
VENEZUELA, BOLIVARIAN REPUBLIC OF | 104 | 50 | -54 |
VIET NAM | 201 | 196 | -5 |
VIRGIN ISLANDS (BRITISH) | 10878 | 11039 | 161 |
VIRGIN ISLANDS (U.S.) | 3 | 3 | 0 |
WALLIS AND FUTUNA | 1 | 1 | 0 |
WEST BANK AND GAZA | 37 | 25 | -12 |
YEMEN | 18 | 15 | -3 |
ZAMBIA | 43 | 32 | -11 |
ZIMBABWE | 60 | 21 | -39 |
Total | 296140 | 293020 | -3120 |
Source: IRS