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This publication is www.gov.uk/government/publications/uk-us-automatic-exchange-of-information-agreement/uk-us-automatic-exchange-of-information-agreement The government (along with France, Germany, Italy and Spain) and with the support of the European Commission participated in joint discussions with the US government to explore an intergovernmental approach to the Foreign Account Tax Compliance Act (FATCA) that supports the overall objective of combating tax evasion while reducing risks and burdens on financial institutions. A model intergovernmental agreement (IGA) was developed and published in July 2012. In September 2012, the United Kingdom and the United States signed an IGA – the UK-US Agreement on International Tax Compliance and FATCA Implementation (see “Current Documents” section below). Schedule II of the IGA was amended by an exchange of notes between the two governments from June 3 to June 7, 2013 (see “Updated Documents” section below). Details of future agreements will be published on this page. 5.12 If there is a written agreement that deals with part XVIII issues between a trader and a fund, it is sufficient, with respect to the merchant`s communications to the Fund, that the trader provide the Fund only with the status of the U.S. account account. 5.11 If there is no written agreement between a trader and a fund and the trader has not provided a ranking as to whether an account is declared for a unit of the fund held in the names of customers that the trader is deemed to hold, the Fund must inform the trader in writing that the account is not documented at the end of the year. (A copy of the application must be kept in the form of a registration prepared by the Fund for compliance with Part XVIII, in accordance with paragraph 267, paragraph 1, of the ITA). This allows the trader (usually the person with the most direct relationship with the underlying investor) to obtain the necessary information from the account holder and provide the fund with the classification of the status to be submitted in the United States before the notification is due to the rating agency. U.S. reporting status is not mandatory for accounts that, pursuant to Schedule II of the agreement, are excluded from notification when the information is made available to the fund by the merchant when the account is opened.