Vatican Bank Signs Up To FATCA

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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.

Booking.com

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
CountryFATCA compliant financial institutions
Afghanistan12
Albania20
Algeria6
Andorra35
Angola24
Anguilla148
Antigua And Barbuda41
Argentina519
Armenia36
Aruba18
Australia3067
Austria3051
Azerbaijan69
Bahamas882
Bahrain224
Bangladesh85
Barbados177
Belarus72
Belgium338
Belize252
Benin12
Bermuda2023
Bhutan2
Bolivia36
Bonaire, Sint Eustatius And Saba12
Bosnia And Herzegovina42
Botswana29
Bouvet Island3
Brazil3594
British Indian Ocean Territory20
Brunei Darussalam24
Bulgaria166
Burkina Faso9
Burundi8
Cambodia91
Cameroon16
Canada3975
Cape Verde14
Cayman Islands27011
Central African Republic6
Chad5
Chile376
China927
Colombia234
Comoros4
Congo5
Cook Islands100
Costa Rica136
Cote D'Ivoire32
Croatia89
Curacao263
Cyprus720
Czech Republic196
Democratic Republic Of Congo15
Denmark315
Djibouti4
Dominica21
Dominican Republic109
Ecuador34
Egypt192
El Salvador68
Equatorial Guinea4
Estonia42
Ethiopia17
Falkland Islands (Malvinas)1
Fiji6
Finland656
France3730
French Polynesia4
French Southern Territories1
Gabon5
Gambia14
Georgia30
Germany3751
Ghana56
Gibraltar2026
Greece156
Greenland3
Grenada33
Guadeloupe1
Guam4
Guatemala82
Guernsey4543
Guinea12
Guinea-Bissau1
Guyana11
Haiti16
Holy See (Vatican City State)1
Honduras52
Hong Kong2730
Hungary372
Iceland22
India442
Indonesia446
Iraq61
Ireland3661
Isle Of Man970
Israel598
Italy1225
Jamaica56
Japan3626
Jersey4088
Jordan63
Kazakhstan97
Kenya72
Kiribati1
Kuwait135
Kyrgyzstan30
Laos21
Latvia56
Lebanon145
Lesotho6
Liberia72
Libya11
Liechtenstein828
Lithuania36
Luxembourg7023
Macao85
Macedonia25
Madagascar8
Malawi18
Malaysia514
Maldives7
Mali11
Malta716
Marshall Islands109
Martinique1
Mauritania15
Mauritius1845
Mexico581
Micronesia1
Moldova25
Monaco135
Mongolia22
Montenegro12
Montserrat12
Morocco136
Mozambique19
Myanmar20
Namibia45
Nepal36
Netherlands3103
New Caledonia5
New Zealand1144
Nicaragua21
Niger6
Nigeria86
North Korea2
Northern Mariana Islands1
Norway519
Oman33
Other800
Pakistan109
Palau1
Panama773
Papua New Guinea5
Paraguay36
Peru187
Philippines214
Poland366
Portugal346
Puerto Rico4
Qatar64
Reunion1
Romania131
Russian Federation1050
Rwanda18
Saint Kitts And Nevis146
Saint Lucia84
Saint Martin2
Saint Pierre And Miquelon1
Saint Vincent And The Grenadines285
Samoa53
San Marino17
Sao Tome And Principe5
Saudi Arabia159
Senegal18
Serbia45
Seychelles144
Sierra Leone10
Singapore1719
Sint Maarten18
Slovakia78
Slovenia60
Solomon Islands4
Somalia1
South Africa730
South Korea580
South Sudan8
Spain1412
Sri Lanka66
Sudan8
Suriname10
Swaziland10
Sweden641
Switzerland4698
Taiwan874
Tajikistan29
Tanzania27
Thailand1351
Timor-Leste2
Togo10
Tonga2
Trinidad And Tobago79
Tunisia34
Turkey259
Turkmenistan12
Turks And Caicos Islands65
Uganda28
Ukraine204
United Arab Emirates342
United Kingdom21204
United States796
Uruguay160
Uzbekistan6
Vanuatu9
Venezuela68
Viet Nam146
Virgin Islands (British)4653
Virgin Islands (Us)2
Wallis And Futuna1
West Bank And Gaza28
Yemen20
Zambia24
Zimbabwe9
Grand Total147044
Source: IRS
Top 10 FATCA Financial Centres - January 1, 2015
CountryFATCA compliant financial institutions
Cayman Islands27011
United Kingdom21204
Luxembourg7023
Switzerland4698
Virgin Islands (British)4653
Guernsey4543
Jersey4088
Canada3975
Germany3751
France3730
Grand Total84676
Source: IRS

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