Question for People with Foreign Financial Accounts

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Tsar
Elite Upper Class Poster
Posts: 3615
Joined: August 7th, 2012, 12:40 pm
Location: Somwhere, Maine

Question for People with Foreign Financial Accounts

Post by Tsar »

How do you stay compliant? How do you deal with FATCA, FBAR, and double taxation?

Honestly, I am probably going to avoid getting any foreign account until I renounce US Citizenship. It's going to be difficult for me but it's better than dealing with the tax compliant issues and double taxation.

I already know foreign accounts I want to open but I won't open them until I can avoid FATCA. Unless I absolutely need a foreign account, I won't open one. I don't want the complications that it would cause.
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