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The Foreign Account Tax Compliance Act (FATCA) is a United States federal law requiring United States persons (including those living outside the U.S.) to have yearly reported themselves and their non-U.S. financial accounts to the Financial Crimes Enforcement Network (FINCEN), and requires all non-U.S. (foreign) financial institutions (FFI's) to search their records for suspected U.S. persons for reporting their assets and identities to the US Treasury. Congress enacted FATCA to make it more difficult for (resident and non-resident) U.S. persons to have financial assets which are not located in the United States, by adding further asset-reporting law with consequences, and thus to enable further federal tax revenues and penalties from a wider global population of newly discovered U.S. persons and their partners, at the expense of non-U.S. banks. The FATCA is the revenue-raising portion of the 2010 domestic jobs stimulus bill, the Hiring Incentives to Restore Employment (HIRE) Act,〔(【引用サイトリンク】title=The Foreign Account Tax Compliance Act (FATCA) )〕〔(111 Cong. Rec. S1635-36 ) (daily ed. Mar 17, 2010) (statement of Sen. Levin) ("Right now, thousands of U.S. tax dodgers conceal billions of dollars in assets within secrecy-shrouded foreign banks, dodging taxes and penalizing those of us who pay the taxes we owe. The Permanent Subcommittee on Investigations... estimated that these tax-dodging schemes cost the Federal Treasury $100 billion a year.")〕 and was enacted as Subtitle A (sections 501 through 541) of Title V of that law. ==Background== FATCA was reportedly enacted for the purpose of detecting the non-U.S. financial accounts of U.S. domestic taxpayers rather than to identify non-resident U.S. citizens and enforce collections. There might be thousands of resident U.S. citizens with non-U.S. assets, such as astute investors, dual citizens, or legal immigrants. FATCA was enacted with the purpose of having non-U.S. financial institutions identify approximately 8.7 million U.S. citizens〔http://www.merriam-webster.com/dictionary/yuk〕 believed to reside outside of the United States and those persons believed to be U.S. persons for tax purposes.〔Fully explained here http://www.ustaxfs.com/what-is-a-us-person-for-irs-tax-purposes/ and partially explained here http://www.irs.gov/Individuals/International-Taxpayers/Classification-of-Taxpayers-for-U.S.-Tax-Purposes〕 FATCA will also be used to help identify non-U.S. person family members and business partners who share accounts with U.S. persons. Another benefit of FATCA is that U.S.-person signatories of accounts will be identified. This feature allows the reporting of the assets of non-U.S. corporations, volunteer organizations, and any other non-U.S. entity where a U.S.-person can be identified. FATCA is used to locate U.S. citizens (usually non-U.S. residents but also U.S. residents) and "U.S. persons for tax purposes" and to collect and store information including total asset value and social security number. The law is used to detect assets, rather than income. The law does not include a provision imposing any tax. In the law, financial institutions would report the information they gather to the U.S. Internal Revenue Service (IRS). As implemented by the intergovernmental agreements (IGAs) (discussed below) with many countries, each financial institution will send the U.S.-person's data to the local government first. For example, according to Ukraine's IGA, the U.S.-person data will be sent to U.S. via the Ukrainian government. Alternatively, in a non-IGA country, such as North Korea, only the North Korean bank will store the U.S.-person data and will send it directly to the IRS. FATCA is used by government personnel to detect U.S. persons and their assets and to enable cross-checking where assets have been self-reported by individuals. FATCA data is used to crosscheck a U.S. person's self-reported data at the Financial Crimes Enforcement Network (FINCEN). U.S. persons, regardless of residence location and regardless of dual citizenships, are required to self-reported their non-U.S. assets to FINCEN on an annual basis.〔http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-FBAR〕 According to qualification criteria, individuals are also required to report this information on IRS information-reporting form 8938. FATCA will allow detection of persons who have not self-reported, enabling collection of large penalties.〔Those required to file an FBAR who fail to properly file a complete and correct FBAR may be subject to a civil penalty not to exceed $10,000 per violation for nonwillful violations that are not due to reasonable cause. For willful violations, the penalty may be the greater of $100,000 or 50 percent of the balance in the account at the time of the violation, for each violation. For guidance on circumstances including natural disasters that prevent timely filing of an FBAR, see FIN-2013-G002 (June 24, 2013). http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-FBAR〕 FATCA allows government personnel to locate U.S. persons not living in the United States, so as to assess U.S. tax or penalties. Under FATCA, non-U.S. (foreign) financial institutions (FFI's) are required to report asset and identify information related to suspected U.S. persons using their financial institutions. Under U.S. tax law, U.S. persons (regardless of country of residence) are generally required to report and pay U.S. federal income tax on income from all sources.〔See generally , 〕 Eritrea also taxes its non-resident citizens, although it states〔http://awate.com/eritrean-regime-2-dues-neither-mandatory-nor-an-income-tax/〕 that the tax is voluntary. The U.S. is unique in taxing not only non-resident citizens but also non-resident "U.S. Persons for Tax Purposes". The law requires U.S. citizens living abroad to pay U.S. taxes on foreign income if the foreign tax should be less than U.S. tax ("taxing up"), independently within each category of earned income and passive income. For this reason, the increased reporting requirements of FATCA have had extensive implications for U.S. citizens living abroad. Taxpayer identification numbers and source withholding are also now used to enforce asset reporting requirements upon non-resident U.S. citizens. For example, mandatory withholding can be required via FATCA when a U.S. payor cannot confirm the non-U.S. status of a foreign payee.〔See .〕 The IRS previously instituted a qualified intermediary (QI) program under Internal Revenue Code § 1441, which required participating foreign financial institutions to maintain records of the U.S. or foreign status of their account holders and to report income and withhold taxes.〔U.S. Government Accountability Office (GAO), (Offshore Financial Activity Creates Enforcement Issues for IRS: Testimony Before the Committee on Finance, U.S. Senate, March 17, 2009 ) (statement of Michael Brostek, Director, Strategic Issues Team) at 10, ("GAO Report" )〕 One report included a statement of a finding that participation in the QI program was too low to have a substantive impact as an enforcement measure and was prone to abuse.〔GAO Report at 10-11〕 An illustration of the weakness in the QI program was that UBS, a Swiss bank, had registered as a QI with the IRS in 2001 and was later forced to settle with the U.S. Government for $780 million in 2009 over claims that it fraudulently concealed information on its U.S. person account holders.〔 Non-resident U.S. citizens' required self-reporting of their local assets was also found to be relatively ineffective.〔GAO Report at 5 (referring to the FBAR filing requirements of non-resident US citizens to the Financial Crimes Enforcement Network)〕 The Hiring Incentives to Restore Employment Act (of which FATCA is a part) was passed on party lines: It narrowly passed the House, with no Republican members voting "yes"〔https://www.govtrack.us/congress/votes/111-2009/h991〕 and passed the Senate with only one Democrat member voting "no".〔https://www.govtrack.us/congress/votes/111-2010/s55〕 President Obama (D) signed the bill into law.〔https://www.youtube.com/watch?v=Hf7nOYRW3e4〕 Senator Levin (D-MI) has stated that the U.S. Treasury loses as much as 100 billion USD annually to "offshore tax non-compliance" without stating the source of the data.〔〔http://www.fas.org/sgp/crs/misc/R40623.pdf〕 (Another source stated 40-70 billion USD without citing the source). Accurate figures on unreported income have not been supported.〔"The $70 billion figure originated with Jack Blum, an attorney and former congressional researcher. Blum cited this figure in 2001Government .... And on the strength of this initial guess, the number has risen steadily from $70 billion to $100 billion to a mind-blowing total of $150 billion. ...... he asked Blum to give an on-the-record response on how he came up with his original $70 billion estimate. After dodging the question once, Blum finally admitted, “I guessed.” " Government “Stats” Strike Again http://www.nestmann.com/government-stats-strike-again#.VUXmvE3GPIU〕 On March 4, 2009 the IRS Commissioner Charles Shulman testified before the Subcommittee that there is no credible estimate of lost tax revenue from offshore tax abuse.〔http://www.compasscayman.com/cfr/2015/08/19/Is-FATCA-chasing-a-leprechaun-and-his-pot-of-gold-/〕 Supplementing the reporting regimes already in place was stated by Senator Max Baucus (D-MT) to be a means of acquiring more financial data and raising government revenue.〔111 Cong. Rec. S10,778 (statement of Sen. Max Baucus) ("This bill (1934 ) would improve tax compliance without raising taxes on anyone. These are taxes that are already legally owed.")〕 After committee deliberation, Sen. Max Baucus and Rep. Charles Rangel (D-NY) introduced the Foreign Account Tax Compliance Act of 2009 to Congress on October 27, 2009. It was later added to an appropriations bill as an amendment, sponsored by Sen. Harry Reid (D-NV), which also renamed the bill the HIRE Act.〔111 Cong., S.A. 3310〕 The bill was signed into law by President Obama on March 18, 2010. A legal challenge against the constitutionality of FATCA, its IGA's, and FBAR reporting requirements was filed in a federal district court in Ohio on July 14, 2015 (''see below''). The case is ''Crawford v. U.S. Department of Treasury''.〔Crawford v. U.S. Department of Treasury, case no. 15-cv-00250-TMR, U.S. District Court, Southern District of Ohio (Dayton).〕 Arguments for an injunction against the FATCA Intergovernmental agreements were held on Sept 4, 2015. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Foreign Account Tax Compliance Act」の詳細全文を読む スポンサード リンク
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