The US Internal Revenue Service (IRS) has told foreign financial institutions (FFIs) that they are not automatically required to close the accounts of US nationals who have not provided their tax identification number by January 2020. US nationals, especially those living abroad, have become increasingly nervous about provisions of the Foreign Account Tax Compliance Act...Read More

From the end of 2019, expatriate US persons must provide their US tax identification number (TIN) to their local banks, or risk having their bank accounts closed or frozen. Under the Foreign Account Tax Compliance Act (FATCA), which came into effect in July 2014, all foreign financial institutions (FFIs) must identify their US clients and...Read More