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>Many financial institutions will block US taxable people due to the complications supporting time My apologies. I don't understand the second half of that se
by nobody9999 5y ago
>Many financial institutions will block US taxable people due to the complications supporting time
My apologies. I don't understand the second half of that sentence. Would you please explain?
- shapefrog 5y agoAs a financial institution outside the US, if you have a US taxable customer, you effectively come under the jurisdiction of the US governement, along with all their forms.
- anotherhue 5y agoTypo. Time == them. Few non-us financial institutions are willing to shoulder the burden of supporting the US Gov. Requirements. So they ask "are you a US taxable person?" "sorry we cannot offer you services at this time".
- nobody9999 5y ago>Few non-us financial institutions are willing to shoulder the burden of supporting the US Gov. Requirements. So they ask "are you a US taxable person?" "sorry we cannot offer you services at this time". Gotcha. I poked around online after reading your comment and it does seem that FATCA[0] is causing issues for American expats. That's a shame. :( [0] https://www.congress.gov/bill/111th-congress/house-bill/3933/text https://www.congress.gov/bill/111th-congress/house-bill/3933...
- CalRobert 5y agoI was just shot down by most brokerages in Europe because I'm a US/Irish dual citizen. Interactive Brokers finally said "yes". Meanwhile, every account I have been able to open asks if I'm a US citizen and demands my (US) details - they do this even if you've never set foot in the US before.