The US's Foreign Account Tax Compliance Act puts onerous burdens on foreign institutions to capture data about US clients, and any clients with ownership of US assets, and to report related tax information to the country's tax authorities. For banks, it is a huge task, but they had better do it well, as this is likely to be the first of many such schemes.

The Banker's articles are exclusively available to registered users and full subscribers

Register for FREE limited access to global banking and finance coverage

Gain easy and instant access to:

  • 3 free views each month
  • Latest headlines and trends
  • Weekly e-newsletter




Already registered? Click here to sign in

Need more? An annual subscription to The Banker provides a wealth of banking and finance knowledge covering a wide range of countries, markets and profiles.
Click here to find out more.


We use cookies to improve site performance and enhance your user experience. If you’d like to disable cookies on this device, please see our cookie management page. If you close this message or continue to use the site, you consent to our use of cookies on this device in accordance with our cookie policy, unless you disable them.