New FATCA exception not as beneficial as might be expected.
US Taxpayers looking to get around reporting their reporting obligations will most likely not be helped by a new FATCA agreement between the USA and Switzerland. There are four very specific exceptions noted in the new agreement. These are related to accounts and assets exclusively maintained within the framework of activities strictly related to profession-specific activities of lawyers or notary professionals.
Read more about new US-Swiss FATCA agreement at International Advisor