Thailand is the latest nation to reinforce tax treaties to expose the financial secrets of US expats to the internal Revenue Service (IRS).
The US ambassador in Bangkok Glyn Davies and Thai finance minister Apisak Tantivorawong signed the agreement that cements the pledge that Thailand’s financial institutions have to file information about accounts and investments held by US expats in the country.
US expats can have accounts holding a total of $200,000 before FATCA reporting is triggered.
The agreement also allows the Thai government to receive financial information about expats in the USA.
112 countries sign up to FATCA
So far, 112 countries have signed FATCA treaties with the USA.
Model 1 treaties allow the reciprocal exchange of tax information between a government and the IRS, while Model 2 treaties only allow a one-way flow to the IRS.
Here is the latest list of countries and their FATCA compliance status with the USA as on March 1, 2016.
If a country is not listed, no FATCA agreement is in force and financial institutions must report information about any accounts controlled by US taxpayers directly to the IRS.
FATCA – Treaties in force
| Jurisdiction | Status | Agreement Type |
|---|---|---|
| Algeria | Signed | Model 1 |
| Angola | Signed | Model 1 |
| Anguilla | Agreement in Substance | Model 1 |
| Antigua and Barbuda | Agreement in Substance | Model 1 |
| Armenia | Agreement in Substance | Model 2 |
| Australia | In Force (6-30-2014) | Model 1 |
| Austria | In Force (12-9-2014) | Model 2 |
| Azerbaijan | In Force (11-5-2015) | Model 1 |
| Bahamas | In Force (9-17-2015) | Model 1 |
| Bahrain | Agreement in Substance | Model 1 |
| Barbados | In Force (9-25-2015) | Model 1 |
| Belarus | In Force (7-29-2015) | Model 1 |
| Belgium | Signed | Model 1 |
| Bermuda | In Force (8-19-2014) | Model 2 |
| Brazil | In Force (6-26-2015) | Model 1 |
| British Virgin Islands | In Force (7-13-2015) | Model 1 |
| Bulgaria | In Force (6-30-2015) | Model 1 |
| Cabo Verde | Agreement in Substance | Model 1 |
| Cambodia | Signed | Model 1 |
| Canada | In Force (6-27-2014) | Model 1 |
| Cayman Islands | In Force (7-1-2014) | Model 1 |
| Chile | Signed | Model 2 |
| China | Agreement in Substance | Model 1 |
| Colombia | In Force (8-27-2015) | Model 1 |
| Costa Rica | Signed | Model 1 |
| Croatia | Signed | Model 1 |
| Curaçao | Signed | Model 1 |
| Cyprus | In Force (9-21-2015) | Model 1 |
| Czech Republic | In Force (12-18-2014) | Model 1 |
| Denmark | In Force (9-30-2015) | Model 1 |
| Dominica | Agreement in Substance | Model 1 |
| Dominican Republic | Agreement in Substance | Model 1 |
| Estonia | In Force (7-9-2014) | Model 1 |
| Finland | In Force (2-20-2015) | Model 1 |
| France | In Force (10-14-2014) | Model 1 |
| Georgia | Signed | Model 1 |
| Germany | In Force (12-11-2013) | Model 1 |
| Gibraltar | In Force (9-17-2015) | Model 1 |
| Greece | Agreement in Substance | Model 1 |
| Greenland | Agreement in Substance | Model 1 |
| Grenada | Agreement in Substance | Model 1 |
| Guernsey | In Force (8-26-2015) | Model 1 |
| Guyana | Agreement in Substance | Model 1 |
| Haiti | Agreement in Substance | Model 1 |
| Holy See | In Force (6-10-2015) | Model 1 |
| Honduras | In Force (2-19-2015) | Model 1 |
| Hong Kong | Signed | Model 2 |
| Hungary | In Force (7-16-2014) | Model 1 |
| Iceland | In Force (9-22-2015) | Model 1 |
| India | In Force (8-31-2015) | Model 1 |
| Indonesia | Agreement in Substance | Model 1 |
| Iraq | Agreement in Substance | Model 2 |
| Ireland | In Force (4-2-2014) | Model 1 |
| Isle of Man | In Force (8-26-2015) | Model 1 |
| Israel | Signed | Model 1 |
| Italy | In Force (8-17-2015) | Model 1 |
| Jamaica | In Force (9-24-2015) | Model 1 |
| Japan | Signed | Model 2 |
| Jersey | In Force (10-28-2015) | Model 1 |
| Kazakhstan | Agreement in Substance | Model 1 |
| Kosovo | In Force (11-4-2015) | Model 1 |
| Kuwait | Signed | Model 1 |
| Latvia | In Force (12-15-2014) | Model 1 |
| Liechtenstein | In Force (1-22-2015) | Model 1 |
| Lithuania | In Force (10-7-2014) | Model 1 |
| Luxembourg | In Force (7-29-2015) | Model 1 |
| Macao | Agreement in Substance | Model 2 |
| Malaysia | Agreement in Substance | Model 1 |
| Malta | In Force (6-26-2014) | Model 1 |
| Mauritius | In Force (8-29-2014) | Model 1 |
| Mexico | In Force (4-10-2014) | Model 1 |
| Moldova | Signed | Model 2 |
| Montenegro | Agreement in Substance | Model 1 |
| Montserrat | Signed | Model 1 |
| Netherlands | In Force (4-9-2015) | Model 1 |
| New Zealand | In Force (7-3-2014) | Model 1 |
| Nicaragua | Agreement in Substance | Model 2 |
| Norway | In Force (1-27-2014) | Model 1 |
| Panama | Agreement in Substance | Model 1 |
| Paraguay | Agreement in Substance | Model 2 |
| Peru | Agreement in Substance | Model 1 |
| Philippines | Signed | Model 1 |
| Poland | In Force (7-1-2015) | Model 1 |
| Portugal | Signed | Model 1 |
| Qatar | In Force (6-23-2015) | Model 1 |
| Romania | In Force (11-3-2015) | Model 1 |
| San Marino | Signed | Model 2 |
| Saudi Arabia | Agreement in Substance | Model 1 |
| Serbia | Agreement in Substance | Model 1 |
| Seychelles | Agreement in Substance | Model 1 |
| Singapore | In Force (3-28-2015) | Model 1 |
| Slovak Republic | In Force (11-9-2015) | Model 1 |
| Slovenia | In Force (7-1-2014) | Model 1 |
| South Africa | In Force (10-28-2014) | Model 1 |
| South Korea | Signed | Model 1 |
| Spain | In Force (12-9-2013) | Model 1 |
| St. Kitts and Nevis | Signed | Model 1 |
| St. Lucia | Signed | Model 1 |
| St. Vincent and the Grenadines | Signed | Model 1 |
| Sweden | In Force (3-1-2015) | Model 1 |
| Switzerland | In Force (6-2-2014) | Model 2 |
| Taiwan* | Agreement in Substance | Model 2 |
| Thailand | Agreement in Substance | Model 1 |
| Trinidad and Tobago | Agreement in Substance | Model 1 |
| Tunisia | Agreement in Substance | Model 1 |
| Turkey | Signed | Model 1 |
| Turkmenistan | Agreement in Substance | Model 1 |
| Turks and Caicos Islands | Signed | Model 1 |
| Ukraine | Agreement in Substance | Model 1 |
| United Arab Emirates | Signed | Model 1 |
| United Kingdom | In Force (8-11-2014) | Model 1 |
| Uzbekistan | Signed | Model 1 |
Source: IRS
