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Old 07-14-2014, 02:14 PM   #41
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I don't know what that statement was meant to say because it seems to me that everyone is treated equally when it comes to FATCA. It doesn't matter if you are a US citizen living in the US or another country, you are required to declare all foreign financial accounts above a certain threshold. (Maybe the threshold for reporting is higher if you reside overseas)
When living abroad you're restricted on how you can invest your US savings, or move your savings to another country. People offered workarounds: having a fake US address, a fake US phone #, a fake IP on their computer so they appear to be in the US, temporary residence in a no-tax state so they can get a fake drivers license. I don't want to be drawn into that game. Do you?
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Old 07-14-2014, 02:27 PM   #42
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Originally Posted by Free_at_49 View Post
When living abroad you're restricted on how you can invest your US savings, or move your savings to another country. People offered workarounds: having a fake US address, a fake US phone #, a fake IP on their computer so they appear to be in the US, temporary residence in a no-tax state so they can get a fake drivers license. I don't want to be drawn into that game. Do you?
Gotcha, I understand the statement now. I do plan to live abroad and maintain a legitimate US address as we expect spend the winters in the US and will keep an apartment available.

The US government doesn't restrict how USC's living overseas can invest their US savings it is the banks who are making these decisions and like all private businesses they have the right to make the rules as long as they stay within the law.
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