US agrees to FATCA exception for Swiss accounts held by lawyers, notaries for clients

The US and Switzerland have agreed that Swiss bank account owner identities can remain confidential for purposes of the Foreign Account Tax Compliance Act (FATCA) in some instances where the account is held by the owner’s attorney or notary.

“As a result of this exception, the financial institution maintaining the account will not have to identify the clients of

FULL ARTICLE http://mnetax.com/us-switzerland-agree-fatca-exception-accounts-held-lawyers-notaries-clients-13876

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