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View Diary: CBS Reports a Daily Kos Hypothesis: Romney Avoided Prison via '09 Tax-Cheat Amnesty (207 comments)

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  •  Couple points (1+ / 0-)
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    Pluto

    I think you need to have $10,000 (or equivalent) to be required to file the FBAR.  Obviously RMoney does, we never got to that level when in the UK.

    The other thing is that the FATCA law (2010) that went into effect basically says to all banks in the world that if you want to deal in US currency (without a 30% witholding tax) then you have to report on all US customers from anywhere in the world.  This is part of why some banks are now refusing to setup accounts for US customers and part of the reason for the spike in US citizenship renunciations.

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