In accordance with the US and Czech Republic intergovernmental agreement (IGA) for implementing the Foreign Account Tax Compliance Act (FATCA), the competent authority arrangement (CAA) has been signed between the US and Czech Republic on 1st October 2015. Paragraph 7.1 of this arrangement gives that the CAA becomes effective after the US-Czech Republic IGA enters into force or when both the US and Czech Republic competent authorities sign CAA. Again, article 3(6) of the US-Czech Republic IGA which was signed on 4th August 2014 requires the competent authorities of the United States and the Czech Republic to enter into an agreement. The FATCA agreement between Czech Republic and US has been entered into force on 18th December 2014.