March 18, 2021: FATCA turns 11

Eleven years ago today, in the Rose Garden of the White House, President Obama signed the Foreign Account Tax Compliance Act into law – buried inside a domestic jobs bill known as the HIRE Act.

There's not much to say about FATCA that we and others didn't last year, when we marked the anti-tax evasion law's 10-year anniversary, as not a lot has changed about it since then.

  • News

U.S. agrees to discuss FATCA-related issues with EU

In what some campaigners for fairer treatment of EU/American dual nationals, particularly 'accidental Americans,' today hailed as a significant development, U.S. Treasury officials are reported to have agreed to meet with their EU counterparts to discuss FATCA-related issues, including those that these dual nationals are struggling with. 

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Europe's 'accidentals' hoping for results, as EU Council plans follow-up meeting next week

Europe's accidental Americans say they're cautiously optimistic that a recently-announced follow-up to last week's ECOFIN discussion on FATCA may at last yield results – at least in the form of an agreement by top EU officials to prioritize the accidentals' concerns, as these officials prepare to meet in coming weeks and months with their counterparts in the new Biden administration. 

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EU 'Accidentals' cheer, as FATCA on ECOFIN agenda next week

In what campaigners for a fairer treatment for Americans and "accidental Americans" affected by the extra-territorial U.S. tax law known as FATCA are hailing as a potentially major development, the EU's Economic and Financial Affairs Council (ECOFIN) is set to discuss the legislation – and its problems for Americans abroad – at a meeting next week. 

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Eleven months of respite promised for Dutch 'unintentional Americans', as campaigners continue to call for a permanent 'solution'

Banks in the Netherlands have said that they will not close the accounts of what are known in that country as "unintentional Americans" for the rest of this year, the country's Minister of Finance, Wopke Hoekstra, told fellow lawmakers on Tuesday – even if these individuals fail to provide these banks with such information as a valid U.S. Social Security Number or Tax Identification Number, as requested. 

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RTL Luxembourg journalist highlights 'accidentals' issue for English-speaking EU audience

A lawyer who is representing the Paris-based Association des Américains Accidentels (Association of Accidental Americans) in a recently-launched lawsuit aimed at stopping Belgium and Luxembourg from transferring the personal data of certain European citizens to the U.S., has given an in-depth look into the complex and often frustrating situation facing certain EU citizens with legacy U.S. citizenship roots to a well-known English-language presenter, on a major Belgian radio station. 

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Accidental Americans reel after Dutch court says bank may close account of retired KLM pilot

Spokespeople for organizations that represent so-called accidental Americans – long-time citizens of other countries whom the U.S. regards as U.S. expatriates and taxpayers, even though they themselves don't consider themselves to be U.S. citizens – were reeling on Thursday from the news that a court in the Netherlands has ruled that a Dutch bank may close the account of such an "accidental," who has refused to enter into the U.S. tax system.

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Opinion

SEAT reminder: 'April 7 is deadline for you to tell Senate Finance C'ttee how well U.S. int'l tax regime works for you'

SEAT reminder: 'April 7 is deadline for you to tell Senate Finance C'ttee how well U.S. int'l tax regime works for you'

As we reported here last week, the U.S. Senate Finance Committee held a hearing last month on “How U.S. International Tax Policy Impacts American Workers, Jobs, and Investment." Many in...

Apr-06-2021