The Canadian governement has signed an IGA (Model 1) which will allow Canadian FI’s to report US persons to the Canadian Revenue Authority. Finance Minister Jim Flaherty’s office announced the deal Wednesday, 5 February 2014.
The document can be downloaded here: FATCA-Agreement-Canada-2-5-2014.
This agreement has been debated heavily in Canadian forums,
In a press release Wednesday, the Canadian Bankers Association called the agreement “the best approach under the circumstances.”