This FAQ provides comprehensive guidance on the implementation of the Foreign Account Tax Compliance Act (FATCA) in the UAE, following the Model 1B Intergovernmental Agreement ratified by Federal Decree No. 9 of 2016. It clarifies obligations for UAE Reporting Financial Institutions (RFIs), including due diligence, registration with the US IRS, and annual reporting via the Ministry of Finance portal. The document specifies roles of regulatory authorities like the Central Bank and SCA, defines U.S. Persons, and outlines penalties for non-compliance under Cabinet Resolution No. 63 of 2022, ensuring international tax transparency standards are met.