FATCA: Foreign Account Tax Compliance Act

What is FATCA for Expats?

FATCA is the 2010 Foreign Account Tax Compliance Act, a law that affects expats in two ways. Firstly, it compels all foreign banks and investment firms to report their American account holders to the IRS or pay a tax when they trade in US markets.


FATCA also requires expats with over $200,000 in foreign financial assets to report them each year by filing form 8938 when they file their federal tax return. You can find information and news relating to FATCA updates in the articles below.

2020 FATCA News for US Expats

2020 FATCA News for US Expats

FATCA is the Foreign Account Tax Compliance Act, a 2010 US law that aimed to help prevent offshore tax evasion. The law has had many unintended consequences though, particularly for American expats all around the world. US tax rules for expats The American tax system is unusual in that it requires American expats to file […]

US Taxes for Expats – FATCA Filing Requirements in 2019

fatca filing requirements expats

Americans who live abroad are required to continue filing a federal tax return each year, reporting their worldwide income, even if they’re also filing a tax return in the country where they’re living. When expats file their federal return they can claim one or more exemptions that the IRS has made available by filing the […]

2018 FATCA News Update for US Expats

2018 fatca news

All Americans have to file an annual federal tax return, even if they live abroad. This is because the US taxes based on citizenship, rather than on residence, so if you’re a US citizen (or green card holder), you have to file US taxes reporting your worldwide income regardless of where in the world you […]

Foreign Assets Reporting – What You Need to Know

expat reporting foreign assets

While living overseas is most often an incredible experience, American expats have to file US taxes from abroad, reporting their worldwide income, often as well as having to file taxes in the country where they reside. This is because, unlike most other countries, the US operates a citizenship based taxation system, meaning that all US […]

US Taxes for Expats – FATCA News 2018

fatca news 2018

America has an unusual tax system, as it’s based on citizenship rather than residence. This means that all US citizens (and green card holders) are required to file US taxes, whether they live in the US or abroad. Nine million Americans are currently living abroad, however many of them aren’t aware of the requirement for […]

FATCA Filing Requirements for American Expats Abroad

expat with fatca filing requirements

The Foreign Account Tax Compliance Act (FATCA) was signed into law in 2010 with the aim of cracking down on tax evasion to increase tax revenue following the financial crisis. FATCA contained two important measures that affect expats, a reporting requirement for expats who have financial assets abroad, and a reporting requirement for foreign banks […]

IRS Form 8938 – FATCA Reporting Requirements For US Expats

form 8938 fatca for expats

All Americans, including expats, have to file a US tax return and report their worldwide income. All Americans are also liable to pay US taxes, even on foreign-earned income, however there are some exclusions and exemptions available that remove most US expats from ending up having to pay anything. Expats still have to file though […]

What is Form 8938? FATCA Filing Requirements for US Expats

Form 8938 Filing Requirements - US Expats and FATCA

The US uses a citizenship-based taxation schema, which requires expats to file US taxes, reporting even foreign-earned income, as long as they’re US citizens. Fortunately, there are many exclusions and exemptions available to reduce US tax owed, often to $0. However, filing does become more complicated when foreign financial assets are involved, as these also […]