Foreign Account Tax Compliance Act FATCA
The Foreign Account Tax Compliance Act establishes rules for the reporting of foreign financial assets held by US taxpayers in a foreign financial institution (FFI) or a nonfinancial foreign entity (NFFE).
Additional Information
FATCA imposes a 30 percent FATCA withholding tax on withholdable payments made to an FFI or an NFFE unless the FFI or the NFFE meets certain stipulated conditions.
