MPs in the Netherlands have called for a resolution to the problem of so-called 'Accidental Americans' who face having their bank accounts closed because of their status as American taxpayers. The Dutch MPs are championing the cause of people who find themselves categorised as American but in many cases have never lived in the US and do not have a US tax number. At the same time, many banks across Europe are threatening to close accounts of Accidental Americans to avoid US penalties. Under FATCA, the US Foreign Account Tax Compliance Act, banks outside America are compelled to report ...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes