Search Q&A
New Regulations for Americans abroad/banking?
It is all connected to the new US Foreign Accounts Tax Compliance Act (FATCA) that forces all international banks to supply information about their US customers wherever they live under penalty of no longer being able to do any business in the United States. As a result, many US citizens are considering giving up their US nationality. There's ample infomation about all this on the internet. Good luck
Oh and by the way, the NSA will read all your (and our!) e-mails while you're abroad as well.
O say can you see by the dawn's early light,
What so proudly we hailed at the twilight's last gleaming
etc. etc. etc.
in the same boat, no ties to embassy or NATO or military. if we don't sign W-9 and provide SSAN to the locals (and we all know how discreet they are - might as well post it on facebook), our accounts will be closed. even if we do sign there will be severe restrictions: no investment products, pension-saving, or mortgage. no payments into US bank accounts, and no contact with the bank by phone or internet while on US territory (such as quick checking your balance while on home leave). starting 2014 all financial transactions will be reported to the IRS (who i am sure will be thrilled and excited at getting a blow-by-blow account of our cost of living). refusing law-abiding people a basic service solely because of their nationality is discrimination of the worst kind and i wonder how long the belgians will get away with it.
It's not just Belgian banks that don't want US customers, it's banks all over the World. If you have anybody you should be complaining loudly to, you'll find them just over the Atlantic ocean.
