On 23 May 2023, the U.S. IRS published the competent authority arrangement signed with Argentina to establish and prescribe the rules and procedures necessary to implement certain provisions of the FATCA Intergovernmental Agreement (IGA) between the two countries that entered into force on 1 January 2023. In particular, the arrangement establishes the procedures for the automatic exchange obligations described in Article 2 of the IGA, including obligations to obtain and exchange information with respect to reportable financial accounts. The arrangement's provisions apply to all information that is exchanged pursuant to the IGA, including reporting for calendar year 2023.