The US Internal Revenue Service’s FATCA List keeps growing.
Table of contents
More than a decade since the Foreign Account Tax Compliance Act was introduced by then-President Barack Obama, thousands of banks and financial businesses worldwide are still signing up for the law.
FATCA now has 404,202 registrations – an increase of 2,658 from October.
Almost half the new registrations came from the Cayman Islands, where 1,097 financial institutions joined FATCA, cementing the tiny British overseas territory’s top FATCA ranking with 82,309 registrations.
That’s more than Brazil in second place (36,588), and the UK in third place (36,172) have added together.
The next FATCA list is published in December.
Top 10 countries with FATCA registrations
| Country | FATCA registrations |
| CAYMAN ISLANDS | 82309 |
| BRAZIL | 36588 |
| UNITED KINGDOM | 36172 |
| JAPAN | 25614 |
| LUXEMBOURG | 19017 |
| VIRGIN ISLANDS (BRITISH) | 14880 |
| CANADA | 14301 |
| GUERNSEY | 9253 |
| JERSEY | 9070 |
| HONG KONG | 8546 |
| Grand Total | 255750 |
Source: IRS
Global FATCA Registrations
| Country | FATCA registrations |
| AFGHANISTAN | 11 |
| ALBANIA | 28 |
| ALGERIA | 48 |
| AMERICAN SAMOA | 1 |
| ANDORRA | 198 |
| ANGOLA | 88 |
| ANGUILLA | 263 |
| ANTIGUA AND BARBUDA | 57 |
| ARGENTINA | 1427 |
| ARMENIA | 55 |
| ARUBA | 22 |
| AUSTRALIA | 7991 |
| AUSTRIA | 2617 |
| AZERBAIJAN | 75 |
| BAHAMAS | 1979 |
| BAHRAIN | 277 |
| BANGLADESH | 84 |
| BARBADOS | 238 |
| BELARUS | 76 |
| BELGIUM | 443 |
| BELIZE | 384 |
| BENIN | 27 |
| BERMUDA | 4147 |
| BHUTAN | 4 |
| BOLIVIA, PLURINATIONAL STATE OF | 81 |
| BONAIRE, SINT EUSTATIUS AND SABA | 12 |
| BOSNIA AND HERZEGOVINA | 85 |
| BOTSWANA | 34 |
| BOUVET ISLAND | 4 |
| BRAZIL | 36588 |
| BRITISH INDIAN OCEAN TERRITORY | 20 |
| BRUNEI DARUSSALAM | 23 |
| BULGARIA | 313 |
| BURKINA FASO | 20 |
| BURUNDI | 9 |
| CAMBODIA | 156 |
| CAMEROON | 37 |
| CANADA | 14301 |
| CAPE VERDE | 14 |
| CAYMAN ISLANDS | 82309 |
| CENTRAL AFRICAN REPUBLIC | 7 |
| CHAD | 12 |
| CHILE | 1771 |
| CHINA | 2964 |
| COLOMBIA | 760 |
| COMOROS | 15 |
| CONGO | 18 |
| CONGO, DEMOCRATIC REPUBLIC OF THE | 19 |
| COOK ISLANDS | 315 |
| COSTA RICA | 144 |
| COTE D’IVOIRE | 81 |
| CROATIA | 188 |
| CURACAO | 414 |
| Cyprus | 1561 |
| CZECH REPUBLIC | 580 |
| DENMARK | 997 |
| DJIBOUTI | 12 |
| DOMINICA | 50 |
| DOMINICAN REPUBLIC | 182 |
| ECUADOR | 117 |
| EGYPT | 298 |
| EL SALVADOR | 150 |
| EQUATORIAL GUINEA | 7 |
| ERITREA | 1 |
| ESTONIA | 127 |
| ETHIOPIA | 21 |
| FALKLAND ISLANDS (MALVINAS) | 1 |
| FAROE ISLANDS | 1 |
| FIJI | 15 |
| Finland | 1848 |
| FRANCE | 7067 |
| FRENCH POLYNESIA | 4 |
| GABON | 17 |
| GAMBIA | 13 |
| GEORGIA | 78 |
| GERMANY | 5340 |
| GHANA | 62 |
| GIBRALTAR | 902 |
| GREECE | 418 |
| GREENLAND | 5 |
| GRENADA | 45 |
| GUAM | 5 |
| GUATEMALA | 90 |
| GUERNSEY | 9253 |
| GUINEA | 26 |
| GUINEA-BISSAU | 5 |
| GUYANA | 21 |
| HAITI | 79 |
| HOLY SEE (VATICAN CITY STATE) | 2 |
| HONDURAS | 52 |
| HONG KONG | 8546 |
| HUNGARY | 574 |
| ICELAND | 54 |
| INDIA | 3229 |
| INDONESIA | 1284 |
| IRAQ | 91 |
| IRELAND | 8472 |
| ISLE OF MAN | 1417 |
| ISRAEL | 2695 |
| ITALY | 4010 |
| JAMAICA | 85 |
| JAPAN | 25614 |
| JERSEY | 9070 |
| JORDAN | 87 |
| KAZAKHSTAN | 156 |
| KENYA | 113 |
| KIRIBATI | 1 |
| KOREA, REPUBLIC OF | 1448 |
| KOSOVO | 16 |
| KUWAIT | 255 |
| KYRGYZSTAN | 28 |
| LAO PEOPLE’S DEMOCRATIC REPUBLIC | 38 |
| LATVIA | 72 |
| LEBANON | 189 |
| LESOTHO | 6 |
| LIBERIA | 49 |
| LIBYA | 21 |
| LIECHTENSTEIN | 1365 |
| LITHUANIA | 203 |
| LUXEMBOURG | 19017 |
| MACAO | 112 |
| MACEDONIA, THE FORMER YUGOSLAV REPUBLIC OF | 55 |
| MADAGASCAR | 13 |
| MALAWI | 14 |
| MALAYSIA | 2004 |
| MALDIVES | 7 |
| MALI | 17 |
| MALTA | 1712 |
| MARSHALL ISLANDS | 299 |
| MAURITANIA | 18 |
| MAURITIUS | 5410 |
| MEXICO | 2688 |
| MICRONESIA, FEDERATED STATES OF | 3 |
| MOLDOVA, REPUBLIC OF | 23 |
| MONACO | 187 |
| MONGOLIA | 24 |
| MONTENEGRO | 28 |
| MONTSERRAT | 13 |
| MOROCCO | 648 |
| MOZAMBIQUE | 22 |
| MYANMAR | 49 |
| NAMIBIA | 88 |
| NEPAL | 32 |
| NETHERLANDS | 6478 |
| NEW CALEDONIA | 7 |
| NEW ZEALAND | 6729 |
| NICARAGUA | 25 |
| NIGER | 15 |
| Nigeria | 109 |
| NORTHERN MARIANA ISLANDS | 1 |
| NORWAY | 1333 |
| OMAN | 55 |
| OTHER | 659 |
| PAKISTAN | 415 |
| PALAU | 1 |
| PANAMA | 2014 |
| PAPUA NEW GUINEA | 17 |
| PARAGUAY | 49 |
| PERU | 1338 |
| PHILIPPINES | 338 |
| POLAND | 1653 |
| PORTUGAL | 458 |
| PUERTO RICO | 2 |
| QATAR | 84 |
| REUNION | 1 |
| ROMANIA | 263 |
| RUSSIAN FEDERATION | 1578 |
| RWANDA | 24 |
| SAINT BARTHELEMY | 1 |
| SAINT KITTS AND NEVIS | 566 |
| SAINT LUCIA | 115 |
| SAINT MARTIN (FRENCH PART) | 1 |
| SAINT PIERRE AND MIQUELON | 3 |
| SAINT VINCENT AND THE GRENADINES | 437 |
| SAMOA | 86 |
| SAN MARINO | 31 |
| SAO TOME AND PRINCIPE | 8 |
| SAUDI ARABIA | 415 |
| SENEGAL | 50 |
| SERBIA | 77 |
| SEYCHELLES | 339 |
| SIERRA LEONE | 9 |
| Singapore | 5736 |
| SINT MAARTEN (DUTCH PART) | 19 |
| SLOVAKIA | 206 |
| SLOVENIA | 195 |
| SOLOMON ISLANDS | 11 |
| SOMALIA | 7 |
| SOUTH AFRICA | 2509 |
| SOUTH SUDAN | 13 |
| SPAIN | 4127 |
| SRI LANKA | 57 |
| SUDAN | 38 |
| SURINAME | 13 |
| SVALBARD AND JAN MAYEN | 2 |
| SWAZILAND | 13 |
| SWEDEN | 1945 |
| SWITZERLAND | 6817 |
| SYRIAN ARAB REPUBLIC | 9 |
| TAIWAN | 2104 |
| TAJIKISTAN | 33 |
| TANZANIA, UNITED REPUBLIC OF | 38 |
| THAILAND | 5179 |
| TIMOR-LESTE | 5 |
| TOGO | 27 |
| TONGA | 6 |
| TRINIDAD AND TOBAGO | 108 |
| Tunisia | 352 |
| TURKEY | 1001 |
| TURKMENISTAN | 13 |
| TURKS AND CAICOS ISLANDS | 115 |
| UGANDA | 42 |
| UKRAINE | 819 |
| UNITED ARAB EMIRATES | 1052 |
| UNITED KINGDOM | 36172 |
| UNITED STATES | 1598 |
| UNITED STATES MINOR OUTLYING ISLANDS | 11 |
| URUGUAY | 243 |
| UZBEKISTAN | 35 |
| VANUATU | 84 |
| VENEZUELA, BOLIVARIAN REPUBLIC OF | 56 |
| VIET NAM | 234 |
| VIRGIN ISLANDS (BRITISH) | 14880 |
| VIRGIN ISLANDS (U.S.) | 5 |
| WALLIS AND FUTUNA | 1 |
| WEST BANK AND GAZA | 21 |
| WESTERN SAHARA | 2 |
| YEMEN | 21 |
| ZAMBIA | 25 |
| ZIMBABWE | 42 |
| Grand Total | 404202 |
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 pay the right amount of tax and not declare their liability.
More about FATCA
FATCA information on the IRS website
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