Non fatca

[Forester]

That list is a big fat lie, I can name at least 20 countries on that list where every single bank you’ll contact will ask you to fill up a W9 and confirm they report

Please mention real non FATCA countries if you can to proof this list wrong!

Well; while I cannot confirm non FATCA nations asides the usual isolated countries such as Iran and Norrh Korea, I can tell you that every single bank in Morocco will report you; I have accounts with the top 3 banks there and all report. BMCE which is owned by BNP Paribas straight up refuses anyone with ties to the US. Andorra reports, Maldives do (I was there on vacation last month and every bank I spoke to will report), Tonga reports, We do business in Senegal and they report; Oman and Jordan are close US Allies and they both report, while Monaco as a government hasn’t signed, every bank there is listed on the IRS manifest and most are French banks with strong ties to the US such as BNP and société général. I spoke with 4 banks last summer while in Monaco and they all report or straight up won’t accept US clients unless you’re ready to deposit $2M+. I’m sure many other countries on that list report especially the African ones since the top banks in africa are either French banks or Moroccan banks (in French speaking countries such as banque populaire and Attijari

I think that the core of this “problem” – in fact, IMO misunderstanding – is the fact that even when some country has not signed the FATCA treaty with the USA, any bank in that country can report according to FATCA voluntarily; and this is quite frequent, banks are forced intensively to do this, otherwise they are in danger to lose the ability to wire US dollars.

 

[Yrybak08]

I think that the core of this “problem” – in fact, IMO misunderstanding – is the fact that even when some country has not signed the FATCA treaty with the USA, any bank in that country can report according to FATCA voluntarily; and this is quite frequent, banks are forced intensively to do this, otherwise they are in danger to lose the ability to wire US dollars.

That’s correct. This is why it’s highly misleading to ever mention countries when referring to FATCA