After substantially agreeing the terms of its IGA on April 17, 2014, on November 3rd The Bahamas completed the necessary formalities and signed the [intergovernmental agreement](http://www.treasury.gov/resource-center/tax-policy/treaties/Documents/FATCA-Agreement-Bahamas-11-3-2014.pdf) with the US Treasury relative to implementing FATCA.
FATCA enabling legislation and Bahamas specific guidance will be released shortly. Article Three outlines the time and manner for exchange of information. Specific exemptions apply for certain sponsored entities, like trusts, foundations and certain funds.