The US Foreign Account Tax Compliance Act (FATCA) has earned the Pope’s seal of approval with The Vatican Bank signing up.
The Institute of Religious Works is the official bank for the Catholic Church and handles all the finances of the Holy See.
The move was revealed on the latest FATCA list published by the US Internal Revenue Service (IRS) on January 1, 2015.
According to the list, 147,044 foreign financial institutions in 225 states have registered as FATCA compliant with the US government – up 24,163 on the FATCA list published at the start of December 2014.
FATCA demands that foreign financial institutions report the financial affairs of any accounts or investments controlled by US taxpayers.
For expats, the reporting threshold is accounts holding $200,000 or more, while for US residents, the limit is $50,000.
The next FATCA list is due on February 1, 2015.
| FATCA List - January 1, 2015 | |
|---|---|
| Country | FATCA compliant financial institutions |
| Afghanistan | 12 |
| Albania | 20 |
| Algeria | 6 |
| Andorra | 35 |
| Angola | 24 |
| Anguilla | 148 |
| Antigua And Barbuda | 41 |
| Argentina | 519 |
| Armenia | 36 |
| Aruba | 18 |
| Australia | 3067 |
| Austria | 3051 |
| Azerbaijan | 69 |
| Bahamas | 882 |
| Bahrain | 224 |
| Bangladesh | 85 |
| Barbados | 177 |
| Belarus | 72 |
| Belgium | 338 |
| Belize | 252 |
| Benin | 12 |
| Bermuda | 2023 |
| Bhutan | 2 |
| Bolivia | 36 |
| Bonaire, Sint Eustatius And Saba | 12 |
| Bosnia And Herzegovina | 42 |
| Botswana | 29 |
| Bouvet Island | 3 |
| Brazil | 3594 |
| British Indian Ocean Territory | 20 |
| Brunei Darussalam | 24 |
| Bulgaria | 166 |
| Burkina Faso | 9 |
| Burundi | 8 |
| Cambodia | 91 |
| Cameroon | 16 |
| Canada | 3975 |
| Cape Verde | 14 |
| Cayman Islands | 27011 |
| Central African Republic | 6 |
| Chad | 5 |
| Chile | 376 |
| China | 927 |
| Colombia | 234 |
| Comoros | 4 |
| Congo | 5 |
| Cook Islands | 100 |
| Costa Rica | 136 |
| Cote D'Ivoire | 32 |
| Croatia | 89 |
| Curacao | 263 |
| Cyprus | 720 |
| Czech Republic | 196 |
| Democratic Republic Of Congo | 15 |
| Denmark | 315 |
| Djibouti | 4 |
| Dominica | 21 |
| Dominican Republic | 109 |
| Ecuador | 34 |
| Egypt | 192 |
| El Salvador | 68 |
| Equatorial Guinea | 4 |
| Estonia | 42 |
| Ethiopia | 17 |
| Falkland Islands (Malvinas) | 1 |
| Fiji | 6 |
| Finland | 656 |
| France | 3730 |
| French Polynesia | 4 |
| French Southern Territories | 1 |
| Gabon | 5 |
| Gambia | 14 |
| Georgia | 30 |
| Germany | 3751 |
| Ghana | 56 |
| Gibraltar | 2026 |
| Greece | 156 |
| Greenland | 3 |
| Grenada | 33 |
| Guadeloupe | 1 |
| Guam | 4 |
| Guatemala | 82 |
| Guernsey | 4543 |
| Guinea | 12 |
| Guinea-Bissau | 1 |
| Guyana | 11 |
| Haiti | 16 |
| Holy See (Vatican City State) | 1 |
| Honduras | 52 |
| Hong Kong | 2730 |
| Hungary | 372 |
| Iceland | 22 |
| India | 442 |
| Indonesia | 446 |
| Iraq | 61 |
| Ireland | 3661 |
| Isle Of Man | 970 |
| Israel | 598 |
| Italy | 1225 |
| Jamaica | 56 |
| Japan | 3626 |
| Jersey | 4088 |
| Jordan | 63 |
| Kazakhstan | 97 |
| Kenya | 72 |
| Kiribati | 1 |
| Kuwait | 135 |
| Kyrgyzstan | 30 |
| Laos | 21 |
| Latvia | 56 |
| Lebanon | 145 |
| Lesotho | 6 |
| Liberia | 72 |
| Libya | 11 |
| Liechtenstein | 828 |
| Lithuania | 36 |
| Luxembourg | 7023 |
| Macao | 85 |
| Macedonia | 25 |
| Madagascar | 8 |
| Malawi | 18 |
| Malaysia | 514 |
| Maldives | 7 |
| Mali | 11 |
| Malta | 716 |
| Marshall Islands | 109 |
| Martinique | 1 |
| Mauritania | 15 |
| Mauritius | 1845 |
| Mexico | 581 |
| Micronesia | 1 |
| Moldova | 25 |
| Monaco | 135 |
| Mongolia | 22 |
| Montenegro | 12 |
| Montserrat | 12 |
| Morocco | 136 |
| Mozambique | 19 |
| Myanmar | 20 |
| Namibia | 45 |
| Nepal | 36 |
| Netherlands | 3103 |
| New Caledonia | 5 |
| New Zealand | 1144 |
| Nicaragua | 21 |
| Niger | 6 |
| Nigeria | 86 |
| North Korea | 2 |
| Northern Mariana Islands | 1 |
| Norway | 519 |
| Oman | 33 |
| Other | 800 |
| Pakistan | 109 |
| Palau | 1 |
| Panama | 773 |
| Papua New Guinea | 5 |
| Paraguay | 36 |
| Peru | 187 |
| Philippines | 214 |
| Poland | 366 |
| Portugal | 346 |
| Puerto Rico | 4 |
| Qatar | 64 |
| Reunion | 1 |
| Romania | 131 |
| Russian Federation | 1050 |
| Rwanda | 18 |
| Saint Kitts And Nevis | 146 |
| Saint Lucia | 84 |
| Saint Martin | 2 |
| Saint Pierre And Miquelon | 1 |
| Saint Vincent And The Grenadines | 285 |
| Samoa | 53 |
| San Marino | 17 |
| Sao Tome And Principe | 5 |
| Saudi Arabia | 159 |
| Senegal | 18 |
| Serbia | 45 |
| Seychelles | 144 |
| Sierra Leone | 10 |
| Singapore | 1719 |
| Sint Maarten | 18 |
| Slovakia | 78 |
| Slovenia | 60 |
| Solomon Islands | 4 |
| Somalia | 1 |
| South Africa | 730 |
| South Korea | 580 |
| South Sudan | 8 |
| Spain | 1412 |
| Sri Lanka | 66 |
| Sudan | 8 |
| Suriname | 10 |
| Swaziland | 10 |
| Sweden | 641 |
| Switzerland | 4698 |
| Taiwan | 874 |
| Tajikistan | 29 |
| Tanzania | 27 |
| Thailand | 1351 |
| Timor-Leste | 2 |
| Togo | 10 |
| Tonga | 2 |
| Trinidad And Tobago | 79 |
| Tunisia | 34 |
| Turkey | 259 |
| Turkmenistan | 12 |
| Turks And Caicos Islands | 65 |
| Uganda | 28 |
| Ukraine | 204 |
| United Arab Emirates | 342 |
| United Kingdom | 21204 |
| United States | 796 |
| Uruguay | 160 |
| Uzbekistan | 6 |
| Vanuatu | 9 |
| Venezuela | 68 |
| Viet Nam | 146 |
| Virgin Islands (British) | 4653 |
| Virgin Islands (Us) | 2 |
| Wallis And Futuna | 1 |
| West Bank And Gaza | 28 |
| Yemen | 20 |
| Zambia | 24 |
| Zimbabwe | 9 |
| Grand Total | 147044 |
| Source: IRS | |
| Top 10 FATCA Financial Centres - January 1, 2015 | |
| Country | FATCA compliant financial institutions |
| Cayman Islands | 27011 |
| United Kingdom | 21204 |
| Luxembourg | 7023 |
| Switzerland | 4698 |
| Virgin Islands (British) | 4653 |
| Guernsey | 4543 |
| Jersey | 4088 |
| Canada | 3975 |
| Germany | 3751 |
| France | 3730 |
| Grand Total | 84676 |
| Source: IRS | |
