Non-FATCA and non-CRS countries: complete list and what it means for US expats in 2026

FATCA is a US law that requires foreign financial institutions to report US account holders to the IRS. CRS is a separate, OECD-led multilateral standard for automatic exchange of financial account information between participating governments.

A handful of jurisdictions have not adopted one or both frameworks. As of 2026, well over 100 jurisdictions have a FATCA intergovernmental agreement with the US, per the US Treasury, and most of the world’s major economies and financial centers participate in CRS automatic exchange.

Non-participating jurisdictions are rare – but even if your bank is in one, your US reporting obligations remain unchanged.

What are non-FATCA and non-CRS countries?

A non-FATCA country is a jurisdiction that has not signed an intergovernmental agreement with the United States under the Foreign Account Tax Compliance Act. A non-CRS country is one that has not committed to the OECD’s Common Reporting Standard for automatic exchange of financial account data.

The two frameworks overlap but are not identical:

• FATCA is US-specific legislation – it compels foreign banks to identify and report US account holders, or face a 30% withholding tax on their US-source income
• CRS is a multilateral standard adopted by most jurisdictions worldwide, allowing tax authorities to swap account information automatically each year

A country can participate in one framework but not the other. The United States itself is the clearest example: it enforces FATCA globally but has never joined CRS. Several smaller economies participate in CRS but have no FATCA agreement. A few jurisdictions sit outside both systems entirely.

For US expats, the practical takeaway is simple. Whether your bank’s country participates in FATCA, CRS, both, or neither does not change what you owe the IRS.

Your obligation to file an FBAR and Form 8938 is based on your account balances and assets.

Your bank’s reporting framework does not change what you owe.

FATCA vs. CRS: key differences every expat must understand

Both frameworks aim to reduce offshore tax evasion, but they differ in scope, legal basis, and who reports to whom.

FATCA is US-centric and enforced through withholding; CRS is multilateral and enforced through peer review.

 

How data flows under each framework

• FATCA is enforced through intergovernmental agreements, or IGAs. Under a Model 1 IGA, the foreign government collects account data from its banks and transmits it to the IRS. Under a Model 2 IGA, foreign financial institutions report directly to the IRS with their government’s consent.
• CRS works differently. Each participating jurisdiction collects financial account data from its own institutions and automatically exchanges it with every other CRS partner. There is no central authority – it is a network of bilateral relationships coordinated by the OECD.

What the difference means for US citizens

The difference that matters most: FATCA obligations follow your citizenship. CRS follows tax residency.

A US citizen living in Germany triggers both – FATCA because of US citizenship, and CRS because Germany reports its tax residents’ accounts to other CRS jurisdictions.

Moving to a non-CRS country does not eliminate FATCA reporting. Moving to a non-FATCA country does not eliminate your obligation to self-report under FBAR and Form 8938.

US expats who hold accounts in FATCA-exempt or non-participating jurisdictions sometimes assume they are invisible to the IRS. They are not.

See our FATCA and CRS reporting requirements guide for a deeper comparison of how these two frameworks interact.

Complete list of non-CRS countries and jurisdictions (2026)

As of 2026, the United States is the most significant jurisdiction that has not adopted CRS – instead enforcing FATCA as its own unilateral framework. A smaller number of economies also remain outside the CRS framework.

The OECD’s Global Forum maintains the official list of CRS commitments. Jurisdictions commonly cited as non-CRS or not yet fully activated for automatic exchange include:

• Cambodia
• Dominican Republic
• El Salvador
• Guatemala
• North Macedonia
• Paraguay – committed to work toward automatic exchange, with no first-exchange year set, per the OECD Global Forum’s AEOI commitments list
• Philippines – committed to the OECD’s Crypto-Asset Reporting Framework, or CARF, by 2028, per the Philippine Department of Finance
• Serbia
• United States

This is not an exhaustive list. Other CRS non-participating countries also remain outside automatic exchange as of 2026, and many are small island economies or territories with limited financial sectors.

The OECD Global Forum updates its commitments list regularly. Readers should verify current status before making financial decisions.

Countries without CRS agreements are not tax-free or invisible to all governments. Many still exchange tax information through older bilateral mechanisms such as Tax Information Exchange Agreements.

Non-CRS countries for banking: what the list really means

Banking in a non-CRS jurisdiction does not eliminate a US person’s obligation to report foreign accounts.

FBAR and Form 8938 are self-reported obligations.

The IRS does not wait for your foreign bank to share data before expecting your disclosure.

Key points to understand:

• If your aggregate foreign account balances exceed $10,000 at any point during tax year 2025, you must file an FBAR
• Form 8938 has separate, higher thresholds that vary by filing status and whether you live in the US or abroad
• Even if your bank is in a non-CRS jurisdiction, it may still share data with the IRS through FATCA channels, through a TIEA, or in response to a specific IRS inquiry

A client banking in a non-CRS country who received an IRS notice once reached out to TFX – the IRS had obtained the account information through a FATCA IGA channel, not through CRS.

 

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Countries without a FATCA agreement: the non-FATCA landscape

FATCA operates through two types of intergovernmental agreements – IGA Model 1 and IGA Model 2. Countries without any IGA are technically “non-FATCA agreement” jurisdictions, but that label can be misleading.

Foreign financial institutions in countries without an IGA may still register directly with the IRS as participating FFIs to avoid the 30% withholding penalty on US-source income.

The absence of a government-level agreement does not mean the country’s banks ignore FATCA entirely.

As of 2026, well over 100 jurisdictions have some form of IGA arrangement – most under Model 1 and a smaller number under Model 2, per the US Treasury. The US Treasury also maintains a list of jurisdictions treated as having an IGA “in substance” or “in effect” while negotiations continue.

A country without a FATCA IGA is not a safe harbor for US persons. Banks in those jurisdictions may still report US account holders directly to the IRS, and any US-source income flowing through a non-compliant FFI faces the 30% withholding.

The list changes as new agreements are signed – the status of a jurisdiction can shift from non-IGA to IGA-in-force within months.

The US Treasury FATCA IGA list is the authoritative source – verify any jurisdiction’s current status there before opening a foreign account.

Examples of jurisdictions without a signed, in-force, or agreed-in-substance IGA are few. Identifying the current FATCA countries with active IGAs requires checking the Treasury’s data rather than relying on secondary lists that may be outdated.

FATCA participating jurisdictions: how the IGA network works

The IGA framework has two models, each defining how financial account data flows between governments.

• Model 1 IGA: The foreign government collects financial account information from its domestic banks and transmits it to the IRS. This is the more common arrangement – most IGA jurisdictions use Model 1. The foreign government acts as the intermediary, reducing the compliance burden on individual banks.
• Model 2 IGA: Foreign financial institutions report directly to the IRS, with their government’s authorization. Banks in Model 2 countries register individually with the IRS through Form 8957 and submit account data directly.

The US Treasury maintains a public list of all IGA jurisdictions, including those with signed, in-effect, and agreed-in-substance arrangements. A jurisdiction that has agreed in substance but not yet signed may still be treated as having an IGA for withholding purposes.

Well over 100 jurisdictions now have some form of IGA arrangement. The network has expanded steadily since FATCA’s 2010 enactment, and remaining holdouts face significant pressure from the 30% withholding mechanism.

See our guide on FATCA penalties for non-compliance for how this withholding mechanism affects individual expats and the institutions they bank with.

Why the United States is the world’s largest non-CRS country

The United States has not adopted CRS because it considers FATCA – its own unilateral framework – to be a functionally equivalent substitute. This creates a significant asymmetry in global tax transparency.

Under FATCA IGAs, the US receives financial account data from over 100 partner countries. But it does not reciprocate by sending equivalent CRS-format data back.

Critics call this the “FATCA loophole” – the US demands transparency from foreign banks while its own banks are not obligated to report foreign-held accounts to other governments under CRS.

This makes the US an attractive banking destination for non-US persons seeking financial privacy. A German citizen parking money in a US bank account may face no automatic reporting to German tax authorities – because the US does not participate in CRS, and FATCA only targets US persons.

For US citizens and green card holders, however, this asymmetry does nothing to reduce reporting obligations. You still must:

• File FBAR and Form 8938
• Report worldwide income
• Disclose specified foreign financial assets regardless of where your bank is located

The US position has drawn criticism from the OECD and from partner governments. The Global Forum on Transparency and Exchange of Information for Tax Purposes monitors CRS compliance and publishes peer review ratings. The US, as a non-participant, sits outside this review process.

Specific non-CRS jurisdictions: Paraguay, El Salvador, and the Philippines

Three jurisdictions frequently cited as non-CRS illustrate different reasons why countries remain outside the automatic exchange framework. Each has a distinct tax system, a different relationship with FATCA, and a specific set of practical banking considerations.

Paraguay

Paraguay operates a strict territorial tax system – only income sourced within Paraguay is taxed.

Paraguay has joined the OECD Global Forum and committed to work toward automatic exchange, but has not set a firm first-exchange year, per the OECD Global Forum’s AEOI commitments list. Check the US Treasury FATCA IGA list for Paraguay’s current FATCA status.

US persons banking in Paraguay still file FBAR and Form 8938 as usual.

El Salvador

El Salvador adopted Bitcoin as legal tender in 2021, attracting crypto-focused expats. However, a January 29, 2025, amendment – approved with 55 votes in favor and tied to $1.4 billion in IMF loan conditions – made business acceptance of Bitcoin voluntary and repealed tax payment in Bitcoin.

El Salvador has a FATCA IGA but has not committed to CRS. The country has a large expat banking sector and remains outside full CRS automatic exchange as of 2026.

The Philippines

The Philippines has a large expat banking sector and a mixed tax system. The country has committed to implementing the OECD’s Crypto-Asset Reporting Framework, or CARF, by 2028, per the Philippine Department of Finance.

The Philippines has a FATCA IGA. Until CRS activation is complete, it remains functionally non-CRS.

All three remain outside full CRS automatic exchange as of 2026 – but El Salvador and the Philippines have FATCA IGAs, and banks in all three can still report US account holders to the IRS.

 

For US expats deciding where to open accounts abroad, the CRS status of a country is one factor – but it is not the one that determines your IRS filing requirements.

FBAR and Form 8938: your US reporting obligations regardless of CRS status

Whether your bank is in a CRS country or a non-CRS country, two US filing requirements apply based on the value of your foreign accounts and assets.

FBAR – FinCEN Form 114

You must file an FBAR if the aggregate value of all your foreign financial accounts exceeds $10,000 at any point during the tax year.

FBAR is filed with FinCEN, not the IRS, and has its own deadline. The non-CRS status of your bank country provides zero legal protection from FBAR penalties.

Form 8938 – Statement of Specified Foreign Financial Assets

Form 8938 is a FATCA-related disclosure filed with your tax return. Thresholds vary by filing status and residency:

• US residents: $50,000 at year-end or $75,000 at any time during the year for single filers; $100,000 / $150,000 for married filing jointly – 2025
• Living abroad: $200,000 at year-end or $300,000 at any time for single filers; $400,000 / $600,000 for married filing jointly – 2025

Why both forms matter

FBAR and Form 8938 are self-reported obligations – the IRS does not wait for a foreign bank to notify them. Your bank’s country of incorporation, its CRS status, and its FATCA participation are irrelevant to whether you must file.

The two forms have different thresholds, different filing destinations, and different penalty structures, but they often apply simultaneously. An expat with $250,000 in foreign accounts files both.

See our FBAR vs. Form 8938 comparison for a side-by-side breakdown of thresholds, deadlines, and what each form covers.

FATCA penalties for non-compliance: what US expats risk

FATCA-related penalties fall into two categories: penalties on institutions that fail to comply with FATCA reporting, and penalties on individuals who fail to disclose foreign assets on their tax returns.

For US expats, the individual penalties are what matter.

FBAR penalties

• Non-willful violations carry a penalty of up to $16,536 per report – 2025, retained for 2026. The Supreme Court’s 2023 ruling in Bittner v. United States clarified that non-willful penalties apply per report – meaning per year – not per account.
• Willful violations carry a penalty of up to $165,353 or 50% of the account balance at the time of the violation, whichever is greater – 2025, retained for 2026.
• Criminal penalties for willful violations can reach $250,000 and five years imprisonment.

The 2026 penalty amounts remain at 2025 levels because the Bureau of Labor Statistics did not publish October 2025 CPI-U data due to a government shutdown. OMB Memorandum M-26-11 cancelled all federal civil monetary penalty inflation adjustments for 2026.

Form 8938 penalties

The penalty structure for Form 8938 escalates quickly:

• Initial penalty: $10,000 for failure to file
• Continuation penalty: $10,000 per 30-day period after a 90-day IRS notice
• Maximum continuation penalties: $50,000
• Combined maximum: $60,000 per return
• Accuracy-related penalty: 40% under IRC §6662 for undisclosed foreign financial assets

Penalties apply regardless of your bank’s country

These penalties apply regardless of whether your accounts are in a CRS country, a non-CRS country, or a country without any FATCA IGA. The IRS assesses penalties based on your filing obligations, not on how it discovers your accounts.

Non-willful penalties in particular can be devastating for expats who simply did not know about their filing requirements.

Expats who received a FATCA letter from their foreign bank and then learned about unreported accounts face real financial exposure.

Non-compliance costs can escalate quickly – our FATCA penalties guide breaks down the full range of civil and criminal exposure.

FBAR and FATCA obligations apply no matter where your accounts are.

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Automatic exchange of information (AEOI): the OECD framework behind CRS

CRS is the OECD’s Common Reporting Standard – the operational mechanism within the broader Automatic Exchange of Information framework.

Under AEOI, participating jurisdictions automatically share financial account data on non-resident account holders with their home country tax authorities each year.

How CRS works in practice

A French tax resident banking in Germany will have their account data automatically sent to French tax authorities – no audit or investigation required.

The German bank identifies the account holder as a French tax resident, reports the account to German authorities, and Germany transmits the data to France under their CRS agreement.

Most of the world’s jurisdictions have committed to CRS. The Global Forum on Transparency and Exchange of Information for Tax Purposes monitors compliance and publishes peer review ratings that affect a jurisdiction’s reputation and banking relationships.

CRS impact for non-US persons vs. US persons

For non-US persons, CRS reporting is triggered by tax residency. A German citizen living in Paraguay – a non-CRS country – may not have their Paraguayan bank account reported to German tax authorities under CRS, because Paraguay does not participate.

Germany may still require worldwide income disclosure under domestic law.

For US persons, CRS is largely irrelevant to individual compliance. The US does not receive CRS data because it is not a CRS participant. The IRS instead relies on FATCA data, treaty-based exchanges, and your self-reported filings.

Tax residency in non-CRS countries: what changes for non-US expats

For non-US persons, establishing tax residency in a non-CRS country can reduce CRS exposure – meaning fewer jurisdictions will automatically receive their financial account data. This is one reason some non-US individuals seek residency in non-CRS jurisdictions.

For US citizens, this strategy is irrelevant. FATCA follows citizenship, not residency.

A US citizen who establishes tax residency in a non-CRS country still:

• Faces the same FBAR and Form 8938 obligations
• Owes worldwide income tax to the US
• Has their foreign accounts reported through FATCA IGA channels

The distinction is important: CRS follows tax residency; FATCA follows citizenship. This single difference defines the entire strategy for international tax planning.

 

US expats living abroad should also understand how bilateral agreements interact with their obligations.

These agreements address tax treatment, not reporting exemptions.

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Beneficial ownership and non-CRS jurisdictions: corporate structures

Holding assets through corporations or trusts in non-CRS jurisdictions does not automatically shield beneficial owners from reporting.

Key disclosure requirements include:

• FATCA: Requires disclosure of beneficial ownership in foreign entities on Form 8938 if the value exceeds the applicable threshold
• FinCEN BOI: Under FinCEN’s final rule, issued August 11, 2026, and effective August 14, 2026, US companies are exempt from beneficial ownership information reporting, and US persons do not need to be reported as beneficial owners. Only entities formed under foreign law that have registered to do business in a US state or tribal jurisdiction remain in scope, and civil penalties apply to late or missing reports.
• CRS amendments: The OECD has expanded the definition of “reportable accounts” to include certain entities that were previously excluded

Corporate structures in non-CRS countries carry BOI reporting obligations under FinCEN rules only if the entity is registered to do business in a US state or tribal jurisdiction.

The step that catches most people is the aggregation: a $6,000 account in one country and a $5,000 account in another still triggers the FBAR.

See our guide on how to determine your maximum annual account balance for FBAR for a detailed walkthrough with examples.

Streamlined filing procedures: catching up if you missed FATCA reporting

US expats who failed to report foreign accounts in non-CRS countries because they assumed no reporting was required may qualify for the IRS Streamlined Foreign Offshore Procedures – a penalty-relief program for non-willful non-compliance.

Who qualifies

The program is available only to taxpayers who were not already under IRS examination. Acting before the IRS contacts you is critical – once an examination begins, Streamlined eligibility is lost.

The program distinguishes between taxpayers who lived abroad and those who lived in the US during the relevant years:

• Foreign version – Streamlined Foreign Offshore Procedures – waives all penalties entirely if the non-willfulness certification is accepted
• Domestic version – carries a 5% miscellaneous offshore penalty

What you need to file

The Streamlined procedures require:

• Amended or delinquent returns for the prior three tax years
• FBARs for the prior six years
• A non-willfulness certification – Form 14653 for the Foreign Offshore Procedures, or Form 14654 for the Domestic Offshore Procedures

Expats who banked in FATCA non-compliant countries and assumed their accounts were invisible face real exposure if they have unreported years. FBAR and Form 8938 penalties escalate the longer you wait – the non-willful cap of $16,536 per report – 2025 – applies per year of non-filing.

See our Streamlined Foreign Offshore Procedures page for eligibility requirements, the filing timeline, and what to expect.

Missed FBAR or FATCA filings? Penalty-free catch-up may be available.

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Non-CRS banking countries: practical considerations for US expats

US expats considering accounts in non-CRS jurisdictions should be aware of several real-world hurdles beyond reporting.

• Account opening difficulty. Many non-CRS banks still ask for FATCA self-certification – W-8BEN or W-9 – because correspondent banks in FATCA-participating countries may flag transfers from non-CRS jurisdictions
• Transfer scrutiny. Correspondent banks that facilitate cross-border wires may apply enhanced due diligence to transfers originating from non-CRS countries
• Investment restrictions. US persons in non-CRS countries may face PFIC issues with local investment products
• Currency risk and capital controls. Some non-CRS jurisdictions impose capital controls that complicate repatriation of funds

Opening a bank account in a non-CRS country is not the same as opening an invisible account.

FATCA self-certification forms are required by most international banks regardless of CRS participation.

PFIC risk in non-CRS countries: foreign investment products

US persons investing in local mutual funds, ETFs, or insurance-linked investment products in non-CRS countries face Passive Foreign Investment Company rules.

PFIC rules impose punitive tax treatment on gains and distributions unless a QEF or mark-to-market election is made. A US expat who buys a local mutual fund in a non-CRS country may unknowingly trigger PFIC rules – resulting in tax rates and interest charges that exceed the original investment gain.

PFIC reporting is required on Form 8621 regardless of whether the country participates in CRS or FATCA. Key consequences of missing Form 8621:

• The IRS assessment period extends indefinitely under IRC §6501 – staying open until three years after the information is furnished
• Related penalties through Form 8938, FBAR, and accuracy-related provisions can apply

Expats considering foreign investment products should work with an advisor experienced in offshore investments.

Your advisor should understand both PFIC implications and the reporting landscape of non-CRS jurisdictions.

Tax information exchange agreements vs. CRS and FATCA

Tax Information Exchange Agreements predate both FATCA and CRS and operate on a request basis rather than through automatic exchange.

Under a TIEA, a country will share information only when specifically asked by a treaty partner – not automatically. A TIEA requires a specific request with reasonable cause, making it a far less powerful enforcement tool than CRS or FATCA, which share data automatically every year.

Many jurisdictions that appear on non-CRS lists still have TIEAs with major economies. Having a TIEA does not mean a country is fully transparent – it means information is available on request, not that it flows automatically.

For US expats, TIEAs are a secondary concern. Your primary exposure comes from:

• FATCA reporting by your bank
• Your own FBAR and Form 8938 obligations
• Any additional treaty-based exchanges your country of residence may have with the US

See our FATCA, CRS, and bilateral agreements guide for a detailed comparison of how much automatic transparency exists between your bank’s country and the IRS.

Foreign investments in non-CRS countries can trigger PFIC rules.

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