WASHINGTON Jan 17 The United States published
final rules on Thursday for a new global tax enforcement regime
targeting the assets of U.S. taxpayers abroad.
The U.S. Treasury announcement finishes the rule-writing
process for the Foreign Account Tax Compliance Act, or FATCA,
which Congress passed in March 2010. The final rules were
expected this month after delays last year.
The final rules spare certain foreign pension funds and
mutual funds information-reporting requirements.
Treasury rejected a request by businesses, banks and foreign
investment funds to delay a January 2014 start date for big
penalties imposed on individuals and financial firms that do not
comply with the law.