United States (US) Foreign Account Tax Compliance Act (FATCA)
The intergovernmental agreement (IGA) between the United States and Thailand regarding the US FATCA was signed on 4 March 2016. The agreement will enter into force on the date of Thailand’s written notification to the United States that Thailand has completed its necessary internal procedures for entry into force.
The US Treasury has previously treated the IGA to be ‘in effect’ since 30 June 2014 when the United States and Thailand reached an agreement in substance and Thailand consented to disclose this status. In accordance with this status, financial institutions in Thailand were allowed to register on the FATCA registration website consistent with the treatment of having an IGA in effect.