Austria Signs Model II FATCA IGA

UniCredit Bank Austria AG
Summary: 
Austria Signs Model II FATCA IGA
Fri, 02/05/2014

Dear Client,

On 29 April 2014, Austria and the United States signed a Model II intergovernmental agreement (IGA) for the implementation of the Foreign Account Tax Compliance Act (FATCA).

Under the Model II IGA, Austria agrees to direct and enable all relevant Austrian financial institutions to report specified information about their U.S. accounts directly to the Internal Revenue Service (IRS).

Impact on investors: Austria financial institutions will report directly to IRS.