US Intergovernmental Agreement Policy is coming

Providenciales, 22 Dec 2014 – No one we checked in with knew about it; the signing of the Intergovernmental Agreement or IGA with the United States of America since December 1st. It had already been touted that the policy was coming; commanding banks and other financial institutions to automatically report on US citizens with interests here to the IRS.

The IGA, which was found posted on KPMGs website outlines that reports to the authorities from financial institutions are due every nine months; but there are already talks to increase that frequency and to open the door to greater expediency in the case where the US wants information on specific individuals instantly.

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