I have experience dealing with this. I'm not a U.S. person, but I have a company in a EU country that I co-own with a U.S. citizen (through personal holding com

I have experience dealing with this. I'm not a U.S. person, but I have a company in a EU country that I co-own with a U.S. citizen (through personal holding companies). Our (EU) bank first demanded we fill in 9 ridiculously extensive forms detailing our entire business, then raised our bank fees from 5 to 105 euro per month, and then closed our account, giving us 2 weeks to send our balance elsewhere. All within a year time. It's extremely hard for us to find a new bank outside the U.S., and inside the U.S. isn't easy either, since we're not a U.S. company, and do no business there. Thank god we're liquidating this company anyway. Doing consulting work, I actually did some work for the bank that closed our account. And honestly, while I didn't get close to the departments that deal with FATCA, I can't say I blame them for closing our account. You should see how much of a headache all of the new regulations in the financial industry are for the institutions.