{"id":8093,"date":"2013-07-17T10:46:11","date_gmt":"2013-07-17T15:46:11","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=8093"},"modified":"2013-07-17T10:46:11","modified_gmt":"2013-07-17T15:46:11","slug":"u-s-defers-enforceability-of-fatca","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/u-s-defers-enforceability-of-fatca\/","title":{"rendered":"U.S. Defers Enforceability of FATCA"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/07\/us-treasury-building.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-8094\" title=\"us treasury building\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/07\/us-treasury-building.jpg\" alt=\"\" width=\"500\" height=\"375\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/07\/us-treasury-building.jpg 500w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2013\/07\/us-treasury-building-300x225.jpg 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>After a lot of complaints around the world with the huge reporting issues faced by banks that must comply with the new regulations under FACTA, the US Treasury Department has extended the deadline.<\/p>\n<p>The fulfillment of the obligation to report on foreign bank accounts  belonging to U.S. citizens has been postponed to July 1, 2014.<\/p>\n<p class=\"description\">This was announced by the <span class=\"hlink\">U.S. Treasury<\/span> through a statement, explaining that &#8220;due to the huge interest from  countries around the world&#8221; the deadline to comply with the Law on  Foreign Account <span class=\"hlink\">Tax<\/span> Compliance (<span class=\"hlink\">FATCA<\/span>), will be extend by six months, that is until July 1, 2014.<\/p>\n<p>&#8220;By this date, foreign <span class=\"hlink\">bank<\/span>s  and other financial institutions must have agreed to identify and  deliver information on U.S. account holders,&#8221; reports Elespectador.com.<\/p>\n<p>Currently there are nine agreements with other governments to facilitate the exchange of information required by <span class=\"hlink\">law<\/span>, and the U.S. is reported to be in talks with another 80 countries and jurisdictions.<\/p>\n<p class=\"link_source\">Source: elespectador.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a lot of complaints around the world with the huge reporting issues faced by banks that must<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8093","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is 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