3 ms·
Sure, that is correct in theory. In practice most European banks won't touch you with a ten-foot pole if they even just suspect you might need to fulfill US rep
by germanier 11y ago
Sure, that is correct in theory. In practice most European banks won't touch you with a ten-foot pole if they even just suspect you might need to fulfill US reporting obligations. Therefore they use a much broader definition This is not only about tax but all the cost associated in dealing with all the forms which makes you an expensive customer.
- lstamour 11y agoBut if you simply own shares in a US company, surely banks will deal with you then? Or if you get paid by a US company as a foreigner? It also is probably on a bank-by-bank basis that things are handled. FATCA was introduced in 2012 but it's been 4 years, long enough that there should be one or two banks at least who will play nice... To be clear, in Canada, my understanding is that it's very hard to get a bank account as a US person unless actually in Canada. But top banks and some credit unions are prepared to handle FATCA-required forms and reporting. Big difference too between foreigners with US interests and actual US persons with foreign interests, I would think...