Publications

Since FATCA was enacted in 2010 there has been widespread concern at the cost of compliance. But many have also been concerned at the two key legal risks FATCA creates – the risk that compliance contravenes local law and the risk that FATCA results in unexpected withholding taxes, even on non-US transactions. Over the last few months a number of jurisdictions have signed intergovernmental agreements with the US (or announced their intention to sign); then on Thursday 17 January 2013, the United States issued the final FATCA Regulations. We look at these developments and ask whether FATCA is now just compliance, or whether real legal risk remains.

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