FATCA List – August 2021

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The US Foreign Account Tax Compliance Act (FATCA) has lifted the veil surrounding one of the world’s most secretive tax-havens.

The sunny tropical Caribbean paradise of The Cayman Islands has 80,000 financial institutions registered under FATCA – more than double that of the UK in second place on 35,232.

In recent months, the Caymans has seen the total number of FATCA registrations rise by more than 700 a month, according to US Internal Revenue Service data.

The list increased by 3,260 from last July, with 741 coming from The Caymans.

The Caymans is considered an ideal destination for multinational companies to locate subsidiaries to defray corporate tax.

Residents – including companies – pay no direct taxes on income, property or gains.

The next FATCA list is due in September.

Top 10 countries with FATCA registrations

CountryFATCA registrations
CAYMAN ISLANDS80001
UNITED KINGDOM35232
BRAZIL34994
JAPAN25300
LUXEMBOURG18411
VIRGIN ISLANDS (BRITISH)14529
CANADA14002
GUERNSEY9039
JERSEY8941
HONG KONG8406
Grand Total248855

Source: IRS

Global FATCA Registrations

CountryFATCA registrations
AFGHANISTAN15
ALBANIA26
ALGERIA48
AMERICAN SAMOA1
ANDORRA200
ANGOLA87
ANGUILLA263
ANTIGUA AND BARBUDA57
ARGENTINA1486
ARMENIA53
ARUBA23
AUSTRALIA7763
AUSTRIA2601
AZERBAIJAN75
BAHAMAS1953
BAHRAIN283
BANGLADESH84
BARBADOS237
BELARUS78
BELGIUM433
BELIZE408
BENIN27
BERMUDA4198
BHUTAN3
BOLIVIA, PLURINATIONAL STATE OF80
BONAIRE, SINT EUSTATIUS AND SABA12
BOSNIA AND HERZEGOVINA80
BOTSWANA34
BOUVET ISLAND4
BRAZIL34994
BRITISH INDIAN OCEAN TERRITORY22
BRUNEI DARUSSALAM24
BULGARIA314
Burkina Faso22
BURUNDI9
CAMBODIA156
CAMEROON36
CANADA14002
CAPE VERDE14
CAYMAN ISLANDS80001
CENTRAL AFRICAN REPUBLIC7
CHAD11
CHILE1711
CHINA2850
COLOMBIA738
COMOROS17
CONGO18
CONGO, DEMOCRATIC REPUBLIC OF THE19
COOK ISLANDS316
COSTA RICA145
COTE D’IVOIRE84
CROATIA189
CURACAO415
CYPRUS1550
CZECH REPUBLIC563
DENMARK989
DJIBOUTI13
DOMINICA45
DOMINICAN REPUBLIC183
ECUADOR173
EGYPT293
EL SALVADOR156
EQUATORIAL GUINEA7
ERITREA1
ESTONIA124
ETHIOPIA21
FALKLAND ISLANDS (MALVINAS)1
FAROE ISLANDS2
FIJI15
FINLAND1822
FRANCE6961
FRENCH POLYNESIA4
GABON16
GAMBIA13
GEORGIA77
GERMANY5311
GHANA65
GIBRALTAR893
GREECE416
GREENLAND5
GRENADA44
GUAM5
GUATEMALA88
GUERNSEY9039
GUINEA23
GUINEA-BISSAU7
GUYANA21
HAITI79
HOLY SEE (VATICAN CITY STATE)2
HONDURAS52
HONG KONG8406
HUNGARY567
ICELAND54
INDIA3195
INDONESIA1266
IRAQ88
IRELAND8403
ISLE OF MAN1415
ISRAEL2604
ITALY3982
JAMAICA85
JAPAN25300
JERSEY8941
JORDAN90
KAZAKHSTAN152
KENYA118
KIRIBATI1
KOREA, REPUBLIC OF1440
KOSOVO15
KUWAIT257
KYRGYZSTAN30
LAO PEOPLE’S DEMOCRATIC REPUBLIC40
LATVIA70
LEBANON189
LESOTHO7
LIBERIA50
LIBYA23
LIECHTENSTEIN1369
LITHUANIA199
LUXEMBOURG18411
MACAO113
MACEDONIA, THE FORMER YUGOSLAV REPUBLIC OF55
MADAGASCAR13
MALAWI12
MALAYSIA1964
MALDIVES8
MALI20
MALTA1673
MARSHALL ISLANDS305
MAURITANIA17
MAURITIUS5325
MAYOTTE1
MEXICO2663
MICRONESIA, FEDERATED STATES OF3
MOLDOVA, REPUBLIC OF24
MONACO192
MONGOLIA20
MONTENEGRO28
MONTSERRAT13
MOROCCO642
MOZAMBIQUE22
MYANMAR51
NAMIBIA99
NEPAL32
NETHERLANDS6301
NEW CALEDONIA7
NEW ZEALAND6445
NICARAGUA25
NIGER17
NIGERIA106
NORTHERN MARIANA ISLANDS1
NORWAY1346
OMAN56
OTHER653
PAKISTAN425
PALAU1
PANAMA2022
PAPUA NEW GUINEA17
PARAGUAY49
PERU1292
PHILIPPINES326
POLAND1639
PORTUGAL454
PUERTO RICO2
QATAR86
REUNION1
ROMANIA264
RUSSIAN FEDERATION1597
RWANDA24
SAINT BARTHELEMY1
SAINT KITTS AND NEVIS568
SAINT LUCIA116
SAINT MARTIN (FRENCH PART)1
SAINT PIERRE AND MIQUELON3
SAINT VINCENT AND THE GRENADINES435
SAMOA98
SAN MARINO31
SAO TOME AND PRINCIPE8
SAUDI ARABIA420
SENEGAL50
SERBIA76
SEYCHELLES345
SIERRA LEONE9
SINGAPORE5458
SINT MAARTEN (DUTCH PART)19
SLOVAKIA201
SLOVENIA191
SOLOMON ISLANDS11
SOMALIA9
SOUTH AFRICA2468
SOUTH SUDAN11
SPAIN4184
SRI LANKA58
SUDAN38
SURINAME12
SVALBARD AND JAN MAYEN2
SWAZILAND14
SWEDEN1945
SWITZERLAND6773
SYRIAN ARAB REPUBLIC9
TAIWAN2093
TAJIKISTAN34
TANZANIA, UNITED REPUBLIC OF40
THAILAND5062
TIMOR-LESTE5
TOGO28
TONGA6
TRINIDAD AND TOBAGO106
TUNISIA348
TURKEY967
TURKMENISTAN13
TURKS AND CAICOS ISLANDS116
UGANDA42
UKRAINE821
UNITED ARAB EMIRATES1022
UNITED KINGDOM35232
UNITED STATES1613
UNITED STATES MINOR OUTLYING ISLANDS11
URUGUAY247
UZBEKISTAN35
VANUATU103
VENEZUELA, BOLIVARIAN REPUBLIC OF58
VIET NAM232
VIRGIN ISLANDS (BRITISH)14529
VIRGIN ISLANDS (U.S.)6
WALLIS AND FUTUNA1
WEST BANK AND GAZA22
WESTERN SAHARA2
YEMEN21
ZAMBIA37
ZIMBABWE44
Grand Total395483

Source: IRS

FATCA FAQ

FATCA is designed to stop US taxpayers from hiding their money offshore to avoid tax.

Many US taxpayers, especially expats, are unaware of FATCA and what it means to their finances.

Here are some answers to the most asked questions about FATCA.

What does FATCA stand for?

FATCA is short for the Foreign Account Tax Compliance Act.

What is the FATCA list?

The FATCA list is a database of financial institutions outside the States registered as compliant with FATCA reporting standards.

What are the FATCA reporting standards?

Foreign financial institutions must supply the US Internal Revenue Service with a list of accounts controlled by US taxpayers each year. However, depending on if the taxpayer lives in the US or overseas, the reporting rules differ.

Who is caught by FATCA rules?

Any US taxpayer with offshore accounts or investments

Do US expats have to be FATCA compliant?

No, FATCA applies to the financial institution, not taxpayers. However, the reports made under FATCA are compared with IRS tax filings to make sure taxpayers are paying the right amount of tax and not failing to declare their liability.

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