FATCA declaration

[sidinz]

I just started with a new bank (loan for IP purchase). They've now sent me a declaration to fill in and send back about whether I, or anyone connected with my LTC, is a US tax-dodger.

This is bollocks. Due to the US govt's bullying and greed, innocent citizens of a country half a world away must jump through hoops whenever they open a bank account?

When I think of the scale of the time and effort of all of the banks in all of the countries, what they're making people do is staggering.

[Bobsyouruncle]

Try opening an account in the USA sid, we have it pretty good here!

[brokerman]

It's one form, complete two sections and sign. As above try opening an account in UK or USA!

[Wayne]

It's one form, complete two sections and sign. As above try opening an account in UK or USA!

The point is why can the USA tell us what to do in such detail?

[brokerman]

The point is why can the USA tell us what to do in such detail?

Agreed, big brother and all that.

[sidinz]

The point is why can the USA tell us what to do in such detail?

Exactly. The global man hours required to comply will be huge. Sure, my time to sign, seal and post may add to a few minutes (presuming I can remember to post the damned thing) but multiply that by millions. Now add in the paid time for bank personnel to collect and report all that information. It's a massive imposition. How on earth can the US so massively interfere with other countries' internal affairs? And make other people use their resources to do their dirty work for them? It's just wrong.

[Ivan McIntosh]

Because we need them more than they need us. The US has never been shy about using its economic muscle.

[PTILoveYou]

The point is why can the USA tell us what to do in such detail?

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