FATCA: Notification of “more favorable terms” under Model 1 IGA

FATCA: "More favorable terms” under Model 1 IGA

The Treasury Department has posted on its FATCA webpage, a notification of “more favorable terms” concerning “certain alternative procedures” under the Model 1 IGA.


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Under terms of the Model 1 IGA (intergovernmental agreement), the United States must notify partner jurisdictions of “more favorable terms” provided to another jurisdiction under the IGA.

The July 2015 notification [PDF 68 KB] states that a letter (attached to the notification) has been sent to the following jurisdictions concerning new accounts opened prior to the IGA’s entry into force.


Australia Italy
Barbados Jamaica
Belarus Jersey
Belgium Latvia
Brazil Liechtenstein
Canada Lithuania
Cayman Islands Luxembourg
Costa Rica Malta
Czech Republic Mauritius
Denmark Mexico
Estonia Netherlands
Finland New Zealand
France Norway
Germany Poland
Gibraltar Qatar
Guernsey Slovenia
Honduras Spain
Hungary South Africa
Ireland Sweden
Isle of Man United Kingdom

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