Opening a new bank account: “Oh I don’t need your passport.” “That’s fine I’ll just keep it out for when we get to FATCA compliance.” “Oh.” “Yep.” “OK I need to get someone who knows how to do that.” “That’s OK.” “I’m sorry you must get this a lot.” “Don’t worry about it.”
-
-
It’s a nuisance; adds about five minutes to opening bank accounts and about an hour of paperwork for the family every year. (I’m obliged to go down our list of everyone’s everything and report the peak balance in yen of e.g. my daughter’s piggy bank savings account.)
Show this thread -
I think the expat community is excessively terrified of it largely because the law as written allows extremely large penalties for non-compliance, but I haven’t heard much about them being issued except against folks who also might have forgotten to declare a million or 30 in tax
Show this thread
End of conversation
New conversation -
-
-
everyone has their own risk / threat profile preference
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Bitcoin dispenses with the notion of money being stored in a physical place altogether.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.