Fatca equivalent

[Alfrankenstein]

Will all offshore banks report to fatca? What is canadas equivalent to fatca?

 

[Forester]

Will all offshore banks report to fatca?

The vast majority (nevertheless exceptions exists). Even if the relevant country did not signed for FATCA with the US government, the bank can enter this mechanism voluntarily – and in many cases enters, as otherwise it can face troubles with access to USD payments.

What is canadas equivalent to fatca?

AUTOMATIC EXCHANGE OF INFORMATION (AEOI) agreement (often referred – mistakenly – as CRS; CRS means Common Reporting System that is a mechanism invoked by AEOI). For Canada since 2018.