On 5 July 2017, President of Uzbekistan Shavkat Mirziyoyev approved an agreement between the Government of Uzbekistan and the Government of the United States of America on implementation of the Foreign Account Tax Compliance Act (FATCA).

Uzbekistan and the United States signed the FATCA agreement in Tashkent on 3 April 2015.

Uzbek President instructed the Ministry of Foreign Affairs to send a notification to the US side on implementation of the domestic procedures by of Uzbekistan necessary for entry into force of this international agreement.

The US adopted FATCA in 2010 and it came into effort in summer of 2014. FATCA requires all financial institutions outside of the US to periodically transmit information on financial accounts held by US persons to the US Internal Revenue Service (IRS), or face a 30 percent withholding tax on payments made from the US.

Original FATCA regulations created a reporting regime under which all foreign financial institutions would have to sign individual agreements to disclose their US clients to the IRS. This regime was modified by introducing IGAs, which were intended to increase compliance and impose a heavier legal burden on financial institutions by integrating FATCA into local law.