Treasury and Switzerland Sign FATCA IGA

The U.S. Department of the Treasury announced that it has signed a non-reciprocal bilateral agreement with Switzerland to facilitate the implementation of FATCA. Switzerland is one of eight countries that have signed or initialed an intergovernmental agreement ("IGA") which helps to facilitate the effective and efficient implementation of FATCA. As anticipated, the Swiss IGA is based on the Model 2 Form of Agreement that was published by Treasury in November, with Swiss financial institutions reporting financial information directly to the U.S. The Swiss IGA is the first Model 2 Form IGA that has been signed.

See: U.S.-Switzerland FATCA IGA.See also: FATCA Resource Center on the Treasury's website.