The Treasury Department (“Treasury”) and the Internal Revenue Service (the “IRS”) announced on July 12, 2013 a general six month extension to the timeline for initial implementation of the Foreign Account Tax Compliance Act or FATCA from January 1, 2014 to July 1, 2014. They also substantially improved coordination of the FATCA registration process with Treasury’s ongoing efforts in negotiating intergovernmental agreements on FATCA.View full memo, "Timeline for Initial FATCA Implementation Extended"
