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Email On September 14, the United States and the United Kingdom entered into an intergovernmental agreement that, if ratified by the U.K. parliament, would provide financial institutions that are resident in the United Kingdom, and branches of financial institutions that are located in the United Kingdom, with an alternative withholding regime to that imposed under the "Foreign Account Tax Compliance Act" ("FATCA") provisions contained in sections 1471 through 1474 of the Internal Revenue Code. The U.S.-U.K. intergovernmental agreement is substantially similar to the "reciprocal" model agreement released by the U.S. Treasury Department on July 26, under which each country exchanges information with the other. https://www.cadwalader.com/resources/clients-friends-memos/united-states-and-united-kingdom-sign-intergovernmental-agreement-under-fatca