fatca

I'm trying to get a clear understanding of how FATCA affects non-resident LLCs and their beneficial owners, especially regarding automatic exchanges of information between the U.S. and countries that have signed Intergovernmental Agreements (IGAs). I know personal accounts with over $10 in...

If I get paid by US customers and deposit the cheques in a checking account in a US bank (most notably one that won’t earn $10 in interest per year), will this get reported to the Canadian tax authority? My understanding from the fatca agreement that the two countries have is that as long as the...

Dear all, We are a Proprietary Crypto Trading company recently created under DMCC free-zone in Dubai, just trading our own funds and capital, with no external investors or 3rd party clients. As you may know, opening a corporate banking account is quite difficult as local banks are not opened...

Hello A recent situation got me thinking about the implications of FATCA for those who have dual residency or citizenship. As I understand, the U.S. only becomes aware of a resident's foreign bank account in two ways: 1. The resident willingly discloses the account through self-reporting, i.e...

Barack Obama signed FATCA in 2010. FATCA stands for the Foreign Account Tax Compliance Act and became a legal requirement targeting Americans from all over the world – exactly, including those who do not live or work in the USA too. At that time, FATCA paved the way to multiple similar acts...

With FATCA and CRS are there still options for EU citizen to create offshore structures as of 2021 where the BO information will not reach the BO country institutions? Basically, what structures are there that can circumvent FATCA and CRS as of 2021 for EU citizens?

Is there a country left that does not comply to the FATCA reporting? I tried to search a little but can't find anything evidence that this or that country does not report!

Apologies I am new to this realm of knowledge if my questions seem obvious. How compliant are banks in Russia in regards to FATCA? Last time I looked at the list of participants the US has bullied into signing it, I did not see Russia on it. However I am aware that just because a country is not...

The Commissioner for Revenue has published a unified set of guidelines on the automatic exchange of financial account information here. These guidelines incorporate further clarifications and salient changes which include: A clarification on entity classification pertaining to Cell Companies in...

I wonder if any of our UK friends have received any of these letters sent out by HMRC in regards to information HMRC received from US via FATCA, information received from UK crown dependencies and information received via CRS. I received a letter a letter from HMRC at an old address a while ago...

Some Bitfinex clients have received the following email: What are your thoughts on this? I am really disappointed by this email, and a lot of customers are going to stop using Bitfinex because of this.