In the Insurance edition of our Swiss Financial Services Newsletter from December 2010, we introduced the topic FATCA and commented on Notice 2010-60. On 8 April 2011, the IRS issued new guidance with a new notice (Notice 2011-34). Unfortunately, many questions have not yet been addressed and it is not clear whether they will be resolved. A third notice from 14 July, Notice 2011-54, was also silent on significant open issues. The article “FATCA - Implication for the Swiss insurance industry - New guidance from Notice 2011-34 and 2011-54“ informs you about the latest Notice and its impact for the Swiss insurance industry.