Lithuania and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on August 26, 2014.
Under the agreement, Foreign Financial Institutions (FFIs) in Lithuania will report the information required under FATCA about U.S. accounts to the Lithuanian 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 Lithuanian Government regarding individuals and entities from Lithuanian with accounts in the United States.
