AARO expat survey: '40% say they've had a U.S. bank refuse their business'

(...But FATCA not directly to blame)

For more than a decade, American expats have reported finding it difficult to obtain or maintain a non-U.S. bank account while living overseas, usually owing to the banks' reluctance to have to comply with the 2010 tax evasion-prevention law known as FATCA. But a new survey confirms something many have also been saying: That even U.S. banks often don't want U.S. expat clients either.

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'Unintentionally American' ex-KLM pilot now takes his fight to keep his Dutch bank account to EU Parliament

Ronald Ariës, a retired Dutch airline pilot who was born in the U.S. but grew up with his Dutch parents in the Netherlands, has taken his fight to be allowed to keep his Dutch bank account – without being forced to agree to U.S. demands that he acknowledge what it regards as his American citizenship – to the European Parliament, by filing a petition with its Committee on Petitions (PETI).

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Questions being asked, after info request revelations of Canadian FATCA transfer data

American expats and spokespeople for organizations representing them have been asking questions about the scale of U.S. expat data being forwarded to the U.S. under the Foreign Account Tax Compliance Act, after the latest Canadian Revenue Agency (CRA) report of such data revealed that around two thirds of the accounts sent actually fell below the US$50,000 FATCA reporting minimum threshold

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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.

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How well do you know your FATCA?

Without really meaning to, many American expatriates as well as tax industry experts, lawyers and others have become experts on the subject of FATCA over the past decade-plus that it's been around. 

So we thought it might be fun, for a change, to mark the occasion of FATCA's coming into force eleven years ago today, by compiling a list of eleven impossible-to-resist questions about it, in order to test just how well we've all been paying attention!
See below...

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Opinion

U.S. tax expert Goulder: Theory of 'strategic forbearance' could help explain EU reluctance to challenge U.S. over FATCA

U.S. tax expert Goulder: Theory of 'strategic forbearance' could help explain EU reluctance to challenge U.S. over FATCA

In July of 2018,members of the European Parliament resoundingly approved a resolution which supported the right of Europe's estimated 300,000 "accidental Americans"  to be allowed to cast off their American citizenship...

Jan-25-2022