You might be unaware of this, but FATCA does not only apply to US citizens, but to "U.S. persons for tax purposes". Me, being a German citizen, have to abide FA

You might be unaware of this, but FATCA does not only apply to US citizens, but to "U.S. persons for tax purposes". Me, being a German citizen, have to abide FATCA simply because I have income taxable in the US. The limitations are severe: Since living in the US I am not allowed to hold certain financial products that I owned when living in Germany, since compliance with US law would be to costly for German institutions. In particular, citing wikipedia [1], "It requires non-US (foreign) financial institutions, such as banks, to enter into an agreement with the IRS to search through their customer databases to identify those customers suspected of being U.S. persons and to disclose the account holders' names, TINs, addresses, and the transactions of most types of accounts." [1] https://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act#Opposition https://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance...