Why would US report?
Think about it logically...what does US GET from reporting non-us citizen funds being held in US banks?
They gain nothing.
Everyone is reporting to them already.
And while rest of world reports, US can become number 1 offshore, because of it not reporting.
So US gets all of this money from rest of world.
WIN-WIN.
If they started reporting people would stop keeping money there.
And nobody can force them to report. It makes no logical sense for them to do so.
Think about it logically...what does US GET from reporting non-us citizen funds being held in US banks?
They gain nothing.
Everyone is reporting to them already.
And while rest of world reports, US can become number 1 offshore, because of it not reporting.
So US gets all of this money from rest of world.
WIN-WIN.
If they started reporting people would stop keeping money there.
And nobody can force them to report. It makes no logical sense for them to do so.