CH - Negotiations with US to switch from non-reciprocal FATCA Model 2 to reciprocal Model 1
01/02/2024
The State Secretariat for International Finance (SIF) of Switzerland in November 2023 released an update announcing the finalization of the negotiations to transition from non-reciprocal FATCA Model 2 IGA (Intergovernmental Agreement) to reciprocal FATCA Model 1 IGA for the automatic exchange of tax information between Switzerland and the United States.
Negotiations were finally concluded on 13 November 2023 and preparations for the signing are currently in progress. Once implemented, Switzerland will receive account details from the IRS.