Almost 100,000 financial institutions have signed up to the US government’s list of Foreign Account Tax Compliance Act (FATCA) compliant organisations.
The latest list published by the Internal Revenue Service (IRS) on September 1, 2014, shows financial institutions from 211 countries are now in the FATCA tax reporting network.
The countries range from a single financial institution in Greenland to almost 20,000 on the Cayman Islands.
The Cayman Islands heads the list as the financial jurisdiction with the most listed financial institutions.
FATCA reporting for US expats
Next is the UK, with almost 8,000, followed by Luxembourg and Switzerland with nearly 5,000 each.
The IRS list has 13 jurisdictions with one bank or financial institution listed, while 54 have less than 10.
Only 22 centres have more than 1,000 financial institutions listed.
Those on the database have agreed to directly send reports of accounts and holdings under the control of US taxpayers to the IRS each year, providing the balance is more than $50,000 for US residents and $20,000 for US expats.
The number of countries with intergovernmental agreements remains unchanged with 88 Model 1 agreements and 13 Model 2 agreements – a total of 101 countries.
| FATCA Compliant Financial Insitutions - September 1, 2014 | |
|---|---|
| Country | Number of compliant financial insitutions |
| AFGHANISTAN | 13 |
| ALBANIA | 22 |
| ALGERIA | 6 |
| ANDORRA | 40 |
| ANGOLA | 26 |
| ANGUILLA | 119 |
| ANTIGUA AND BARBUDA | 43 |
| ARGENTINA | 483 |
| ARMENIA | 28 |
| ARUBA | 16 |
| AUSTRALIA | 1992 |
| AUSTRIA | 3099 |
| AZERBAIJAN | 40 |
| BAHAMAS | 682 |
| BAHRAIN | 166 |
| BANGLADESH | 88 |
| BARBADOS | 163 |
| BELARUS | 58 |
| BELGIUM | 264 |
| BELIZE | 231 |
| BENIN | 13 |
| BERMUDA | 1638 |
| BHUTAN | 4 |
| BOLIVIA, PLURINATIONAL STATE OF | 52 |
| BONAIRE, SINT EUSTATIUS AND SABA | 10 |
| BOSNIA AND HERZEGOVINA | 23 |
| BOTSWANA | 16 |
| BRAZIL | 2644 |
| BRUNEI DARUSSALAM | 20 |
| BULGARIA | 113 |
| BURKINA FASO | 7 |
| BURUNDI | 3 |
| CAMBODIA | 80 |
| CAMEROON | 5 |
| CANADA | 2667 |
| CAPE VERDE | 18 |
| CAYMAN ISLANDS | 18858 |
| CENTRAL AFRICAN REPUBLIC | 5 |
| CHAD | 5 |
| CHILE | 409 |
| CHINA | 658 |
| COLOMBIA | 192 |
| CONGO | 3 |
| CONGO, DEMOCRATIC REPUBLIC OF THE | 15 |
| COOK ISLANDS | 88 |
| COSTA RICA | 136 |
| COTE D'IVOIRE | 26 |
| CROATIA | 60 |
| CURACAO | 189 |
| CYPRUS | 410 |
| CZECH REPUBLIC | 122 |
| DENMARK | 206 |
| DJIBOUTI | 3 |
| DOMINICA | 18 |
| DOMINICAN REPUBLIC | 82 |
| ECUADOR | 36 |
| EGYPT | 165 |
| EL SALVADOR | 45 |
| EQUATORIAL GUINEA | 4 |
| ESTONIA | 30 |
| ETHIOPIA | 2 |
| FALKLAND ISLANDS (MALVINAS) | 1 |
| FIJI | 5 |
| FINLAND | 580 |
| FRANCE | 2541 |
| FRENCH POLYNESIA | 2 |
| FRENCH SOUTHERN TERRITORIES | 2 |
| GABON | 4 |
| GAMBIA | 11 |
| GEORGIA | 28 |
| GERMANY | 2869 |
| GHANA | 50 |
| GIBRALTAR | 1193 |
| GREECE | 120 |
| GREENLAND | 1 |
| GRENADA | 30 |
| GUAM | 4 |
| GUATEMALA | 95 |
| GUERNSEY | 3048 |
| GUINEA | 9 |
| GUINEA-BISSAU | 2 |
| GUYANA | 6 |
| HAITI | 7 |
| HONDURAS | 35 |
| HONG KONG | 2400 |
| HUNGARY | 317 |
| ICELAND | 8 |
| INDIA | 423 |
| INDONESIA | 386 |
| IRAQ | 51 |
| IRELAND | 2319 |
| ISLE OF MAN | 455 |
| ISRAEL | 375 |
| ITALY | 766 |
| JAMAICA | 49 |
| JAPAN | 3474 |
| JERSEY | 2261 |
| JORDAN | 56 |
| KAZAKHSTAN | 96 |
| KENYA | 63 |
| KIRIBATI | 2 |
| KOREA, DEMOCRATIC PEOPLE'S REPUBLIC OF | 3 |
| KOREA, REPUBLIC OF | 511 |
| KUWAIT | 75 |
| KYRGYZSTAN | 34 |
| LAO PEOPLE'S DEMOCRATIC REPUBLIC | 15 |
| LATVIA | 55 |
| LEBANON | 119 |
| LESOTHO | 5 |
| LIBERIA | 39 |
| LIBYA | 10 |
| LIECHTENSTEIN | 343 |
| LITHUANIA | 30 |
| LUXEMBOURG | 4264 |
| MACAO | 66 |
| MACEDONIA, THE FORMER YUGOSLAV REPUBLIC OF | 29 |
| MADAGASCAR | 6 |
| MALAWI | 2 |
| MALAYSIA | 490 |
| MALDIVES | 8 |
| MALI | 11 |
| MALTA | 370 |
| MARSHALL ISLANDS | 91 |
| MARTINIQUE | 2 |
| MAURITANIA | 10 |
| MAURITIUS | 970 |
| MEXICO | 549 |
| MOLDOVA, REPUBLIC OF | 20 |
| MONACO | 123 |
| MONGOLIA | 9 |
| MONTENEGRO | 10 |
| MONTSERRAT | 15 |
| MOROCCO | 114 |
| MOZAMBIQUE | 20 |
| MYANMAR | 18 |
| NAMIBIA | 13 |
| NEPAL | 28 |
| NETHERLANDS | 2416 |
| NEW CALEDONIA | 3 |
| NEW ZEALAND | 512 |
| NICARAGUA | 9 |
| NIGER | 7 |
| NIGERIA | 75 |
| NORWAY | 453 |
| OMAN | 27 |
| PAKISTAN | 79 |
| PANAMA | 724 |
| PAPUA NEW GUINEA | 4 |
| PARAGUAY | 24 |
| PERU | 221 |
| PHILIPPINES | 244 |
| POLAND | 231 |
| PORTUGAL | 466 |
| PUERTO RICO | 4 |
| QATAR | 54 |
| ROMANIA | 102 |
| RUSSIAN FEDERATION | 865 |
| RWANDA | 13 |
| SAINT KITTS AND NEVIS | 124 |
| SAINT LUCIA | 43 |
| SAINT MARTIN (FRENCH PART) | 2 |
| SAINT VINCENT AND THE GRENADINES | 127 |
| SAMOA | 43 |
| SAN MARINO | 13 |
| SAO TOME AND PRINCIPE | 3 |
| SAUDI ARABIA | 41 |
| SENEGAL | 12 |
| SERBIA | 39 |
| SEYCHELLES | 99 |
| SIERRA LEONE | 11 |
| SINGAPORE | 1109 |
| SINT MAARTEN (DUTCH PART) | 18 |
| SLOVAKIA | 65 |
| SLOVENIA | 47 |
| SOLOMON ISLANDS | 3 |
| SOUTH AFRICA | 387 |
| SOUTH SUDAN | 5 |
| SPAIN | 1557 |
| SRI LANKA | 45 |
| SUDAN | 10 |
| SURINAME | 10 |
| SWAZILAND | 7 |
| SWEDEN | 457 |
| SWITZERLAND | 4684 |
| TAIWAN | 717 |
| TAJIKISTAN | 24 |
| TANZANIA, UNITED REPUBLIC OF | 18 |
| THAILAND | 994 |
| TIMOR-LESTE | 2 |
| TOGO | 13 |
| TONGA | 1 |
| TRINIDAD AND TOBAGO | 55 |
| TUNISIA | 6 |
| TURKEY | 246 |
| TURKMENISTAN | 1 |
| TURKS AND CAICOS ISLANDS | 30 |
| UGANDA | 19 |
| UKRAINE | 203 |
| UNITED ARAB EMIRATES | 226 |
| UNITED KINGDOM | 8441 |
| UNITED STATES | 693 |
| URUGUAY | 173 |
| UZBEKISTAN | 3 |
| VANUATU | 5 |
| VENEZUELA, BOLIVARIAN REPUBLIC OF | 71 |
| VIET NAM | 144 |
| VIRGIN ISLANDS (BRITISH) | 2842 |
| VIRGIN ISLANDS (U.S.) | 2 |
| WEST BANK AND GAZA | 26 |
| YEMEN | 22 |
| ZAMBIA | 22 |
| ZIMBABWE | 4 |
| Grand Total | 99777 |
| Source: IRS | |
