Not yet.taxico wrote:has anyone else gotten calls/letters from banks about your bank deposits...?
Not just citizenship. FATCA affects you even if you go and work in the US for short term. There is a section in the FACTA declaration that asks whether you had substantial presense in the US.GSM8 wrote:Frankly, FATCA is not the underlying problem here. The idiotic US policy of citizenship based taxation is. Blaming FATCA is somewhat akin to shooting the messenger
Do you meet substantial presence test (only if you
are NOT a US Citizen or US Green Card Holder)*
*Generally, you will meet substantial present test in US if you were physically present in the United States on at least -
1. 31 days during the current calendar year, and
2. 183 days during current year and preceding two years, counting
• All the days you were present in the current year (+)
• 1/3 of the days you were present in the first year before the current year (+)
• 1/6 of the days you were present in the second year before the current year
For exemptions, as applicable, kindly refer http://www.irs.gov/Individuals/Internat ... sence-Test
Isn't she is a US citizen?PNGMK wrote:If it's like my wife's call it's along the lines of either identify or withdraw and close account. She is now down to one account (at Standard Chartered) from her previous 4.
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