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The FATCA agreement is an international agreement signed between Canada and the United States that allows the implementation of the Foreign Account Tax Compliance Act (an Act of the U.S. Congress) in Canada. The American Act requires Canadian financial institutions, and United States persons, including individuals who live outside the United States, to report the principal amount held in their financial accounts outside of the United States to the Internal Revenue Service (IRS). It is one of 30 intergovernmental agreements the US has concluded with other countries to implement the FATCA. According to the Canadian Broadcasting Corporation (CBC) there are about one million American citizens living in Canada. This treaty also affects their spouses, children, or anyone with whom they own property, share a business connection, or hold a joint financial account. The agreement exempts Tax-Free Savings Accounts, Registered Disability Savings Plans and Registered Education Savings Plans. Canadian banks say they expect compliance costs to be "enormous". According to Bloomberg, Revenue Canada minister Kerry-Lynne Findlay promised that this treaty will not impose any U.S. taxes or penalties on people holding accounts in Canada. == October 2013 Financial Post report == While anticipating the agreement but before it was signed, Scotia Bank, one of Canada’s large banks, spent almost $100 million, implementing a system to report to the United States the account holdings of Canadians of American origin, and their Canadian born spouses in order to comply with FATCA. According to the Financial Post FATCA requires Canadian banks to provide information to the United States including total assets, account balances, account numbers, transactions and more, and includes assets held jointly with Canadian-born spouses and other family members. 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「FATCA agreement between Canada and the United States」の詳細全文を読む スポンサード リンク
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