United States and the Czech Republic signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on 4 August 2014.
Under the agreement, Foreign Financial Institutions (FFIs) in Czech Republic will report the information required under FATCA about U.S. accounts to the Czech Republic Government, which in turn will report the information to the IRS. This agreement is reciprocal, meaning that the United States will also provide similar tax information to the Czech Republic Government regarding individuals and entities from Czech Republic with accounts in the United States.
