On 9 September 2019, the Luxembourg Ministry of Finance and the US Embassy in Luxembourg announced that the ratification of the 2009 Protocol amending the US-Luxembourg Double Tax Treaty has been completed, thus bringing the Protocol into force.
The Protocol replaces article 28, on the exchange of information, of the existing US-Luxembourg Double Tax Treaty with one that follows the approach of the US and the OECD model tax treaties. A new provision is introduced under which a party may not decline to provide information solely because that information is held by banks, financial institutions, nominees, or persons acting in a nominee or fiduciary capacity or because it relates to ownership interests in a person.
The provisions of the protocol are complementary to the FATCA legislation relating to the exchange of information held by financial institutions as in force in Luxembourg.
The Protocol will become effective for requests for information made on or after the date of entry into force for tax years on or after 1 January 2009.