Accounts in USA for a U.S. LLC - reportable?

[AndyN]

I am the manager and sole member of a U.S. LLC. I am resident in an EU country. The LLC has some accounts with a U.S. bank and U.S. brokerages.

Are these accounts AUTOMATICALLY reportable to taxman in my country of residence under automatic exchange of information between USA and my country or under FATCA or for any other reason?

 

[Sols]

In theory, yes. Chances are there is a reciprocal IGA under which the US should report you.

In reality, probably not, at least not right now. The US is not playing ball and failing to report in many cases.

One possible outcome of the recent election (subject to certification of election results) is improvement of US—EU relations and one aspect there might be better enforcement of FATCA IGAs.

 

[AndyN]

It seems to me that this encouragement by the U.S. governments now and in the past to attract capital to the USA by acting as an unofficial tax haven has been a planned action and will result in some sort of unexpected event in the near future, this decade perhaps, and it will have something to do with U.S. Dollar reserve currency status.
I just do not know what their plan is and whether it is safe to put money in there... Any suggestions?

 

[Fulton Abraham Sanchez]

I am the manager and sole member of a U.S. LLC. I am resident in an EU country. The LLC has some accounts with a U.S. bank and U.S. brokerages.

Are these accounts AUTOMATICALLY reportable to taxman in my country of residence under automatic exchange of information between USA and my country or under FATCA or for any other reason?

No. they are not. U.S. is not signatory of CRS.