FATCA REPORTING & OFFSHORE BANKING

[xer cupter]

I am a US Citizen, I am looking into ways to bank somewhere without being reported. Are there any options at all?

 

[joseph15]

I am a US Citizen, I am looking into ways to bank somewhere without being reported. Are there any options at all?

US is arguably the toughest one to escape. Your absolute best shot is probably getting dual citizenship since fatca is tied with pretty much every country. Or, you could just permanently leave the US.

 

[Sols]

There are a few options but not in any countries you'd probably want to bank.

Leaving the US will not change anything, unless you leave the US, obtain a second citizenship, and lie to your bank about not being a US person. When/if they bank finds out, you will be reported. Funds may be frozen, too. It's not a pleasant experience.

 

[HeidiInTheAlps]

Do all banks ask if you are a US tax person?

 

[Sols]

Do all banks ask if you are a US tax person?

Yes, except maybe small rural banks in developing countries that don't have access to international currencies.

 

[HeidiInTheAlps]

I know some banks ask where you were born, and if USA=Yes, you get flagged. Since that's me anyway, I'm not sure how that would work if I renounced. Do I then I have to take that proof everywhere I go? I do have an EU passport.