The South Africa-United States FATCA Model 1A Agreement (2014) entered into force on 28 October 2014. The agreement was signed on 9 June 2014.
Under the agreement, the US Government collects information regarding certain accounts maintained by U.S. financial institutions held by residents of South Africa and is committed to exchanging such information with the Government of the Republic of South Africa and pursuing equivalent levels of information exchange, provided that the appropriate safeguards and infrastructure for an effective exchange relationship are in place.
This agreement is a reciprocal agreement, meaning that the South African and US governments will undertake the same activities to exchange information.
