Foreign Account Tax Compliance Act

Serbia and United States reach agreement in substance to allow reporting on bank accounts held by Americans in Serbia

On June 30, 2014, Serbia and United States reached agreement in substance on the terms of an intergovernmental agreement that would allow Serbian financial institutions to comply with U.S. Foreign Account Tax Compliance Act (FATCA) requirements for reporting on bank accounts held by American citizens in Serbia. The United States and Serbia are cooperating now to sign a final agreement.

For more information on this issue, please refer to the U.S. Department of the Treasury’s press release.