Part of an equivalent process to that for Ireland, a draft Statutory Instrument along with draft guidance, and a response to the original consultation dealing with implementing the Foreign Accounts Tax Compliance Act (FACTA) have been published. Comments on the draft Statutory Instrument were required by 13 February 2013.

By way of reminder, FACTA is part of a United States effort to combat tax evasion by US persons holding investments in offshore accounts. It requires US taxpayers holding foreign financial assets with an aggregate value exceeding $50,000 to report on those assets, but also requires foreign financial institutions to report directly to the Internal Revenue Service certain information about foreign financial accounts.