The provisions commonly known as the Foreign Account Tax Compliance Act (FATCA) became law in March 2010 in the United States. The objective of FATCA is the reporting of foreign financial assets held by U.S. citizens.
Foreign FIs and banks are required to report to the Internal Revenue Service (IRS) about their U.S. customers.
Italy signed a Model 1 IGA with the United States on January 10th, 2014 to implement FATCA.
In order to comply with FACTA regulation, Iccrea Banca registered to obtain a GIIN (Global Intermediary Identification Number).