FATCA effective date has been extended by 6 months
The US authorities (the Inland Revenue Service and the Department of the Treasury) have announced that due to overwhelming international interest, the deadline for implementation of the various FATCA withholding and account due diligence requirements has been extended to 1st July 2014 to allow more time for agreements to be concluded with foreign jurisdictions. The US Treasury has issued and will maintain a list of those jurisdictions which are treated as having an IGA in place iwth the US.
http://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA-Archive.aspx
The extension will also grant the time necessary to foreign financial institutions (FFIs) to comply with FATCA and ensure efficient implementation of the law
The first report of information under FATCA continues to be in 2015 in respect of accounts held in 2014.
