Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The latest attempt to combat tax evasion – the Foreign Account Tax Compliance Act – came into effect on 1 July, but many law firms are struggling to understand their obligations under the complex legislation. Neil Hodge finds out what the Act means for firms and their clients, and the next steps they should take

FATCA is this summer’s top acronym thanks to the wide-sweeping new US rules that came into force on 1 July. The Foreign Account Tax Compliance Act compels any organisation outside the US that handles client money to, in effect, report the financial details of all US account holders to the Internal Revenue Service (IRS). The legislation affects financial institutions such as banks and fund managers, but also trust companies and even law firms.

This premium content is reserved for
Law.com International Subscribers.


  • Customized news by region including UK, Asia, Europe, Latin America, Middle East, Africa, and North America
  • Cutting-edge research such as UK Top 100, China 45, and Asia 50
  • Get the inside track on the biggest breaking stories that delve deep into the issues behind the headlines
  • Comprehensive coverage of the dynamic legal market from people moves to the major international jurisdictions
  • Global view into how legal tech, business of law, in-house and regulatory environments are intersecting worldwide

Already a subscriber?

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


Law.com International Newsletters & Briefings

Sign Up Today and Never Miss Another Story.

Sign up for an unlimited number of complementary newsletters, alerts, and International Briefings. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 American Lawyer Media International, LLC. All Rights Reserved.