Implementing FATCA by Israeli Banks

FATCA Compliance. FATCA, The Foreign Account Tax Compliance Act was legislated in May 2010 and entered into force In July 2014. FATCA obliges U.S. taxpayers, namely American passport holders and American social security number owners, to report foreign financial accounts, whose value exceeds 10,000 dollars, and offshore assets to the IRS (Internal Revenue Service). It also obliges foreign financial… [Read More]