Has anyone heard anything new on Alterna being exempt from FATCA reporting?
SwedishPublic Radio (SR) has sense of humor!
They created tag #FATCAINFO to list the reciprocal data you think USA should xchange for Swedish FATCA data.
What US data would Sweden really be interested in?
Use your imagination—what could that tax haven Sweden use for FATCA reciprocity that they could possibly use?
You can’t understand it, but the Swedish national radio satire program requested it here:
(No blocks, you can send serious sh_t, too)
Tweet away—humor is more powerful than seriousness!
— U.S. Citizen Abroad (@USCitizenAbroad) October 24, 2014
The article includes:
Unlike other developed nations, the U.S. taxes citizens on income they earn anywhere in the world. The rule dates to the Civil War. U.S. tax liabilities can also cover children born to Americans abroad, extending the reach of the Internal Revenue Service across generations as well as oceans. There are only partial offsets for double taxation for people who owe taxes both to the U.S. and a foreign country, and the reporting rules are onerous, experts say.
For decades these laws were rarely enforced. Now, scrutiny of Americans abroad is intensifying because of the Foreign Account Tax Compliance Act, or Fatca, which Congress passed in 2010. The law’s main provisions, which took effect in July, will require foreign financial institutions to report income of their U.S. customers to the IRS.
Comments are open, at least for now.
Whereas US FATCA program assumes all of USA’s expats are tax cheats, Sweden does one better and considers all of its expats as being corrupt. In both systems, the accused must prove himself innocent because otherwise he is assumed guilty.
Crosspost from this article: http://bit.ly/ZL5GSb
The US FATCA system requires the world’s banks to police expatriate US citizens, by demanding their bank account balances, Social Security numbers, and addresses and personal information. The Swedish system requires Swedish banks to inquire and store data upon the political status of its expatriates. It doesn’t stop there-it requires the same status upon the relatives of the account holder. And, same as FATCA, if the account holder doesn’t comply the account is to be frozen by the bank.
Although this documentation is demanded by the Swedish government, the bank association “assures” the bank customers that the bank holds the information confidential. Right–why does a bank perform police investigations—is the bank then going to prosecute those that can’t prove they aren’t corrupt?—Well, maybe not, but it will freeze the account and stop the usage of most of the functions in the bank account. Freezing bank account functions as a threat to force private-information disclosure is as close as one could get to deputizing a financial institution with unconstitutional police powers. I wonder if that old grundlag is really worth anything at all?
Sweden has followed the US’ lead, in deputizing the world’s banks to police over the citizenry.
The worst possible combination for a Swedish citizen could be that the Swedish citizen is an expatriate located in USA. In this case, the person is assumed both a tax evader and corrupt. This became evident in a recent story upon Swedish TV, where a man received a series of questions asking the origin of the money in his account, if he was a US person, and the whole series of questions about the political activities of himself and his relatives.
Apparently, the bank (Nordea) had combined a form which assumes that anyone suspected of a US person must prove himself as not being a tax evader, together with the assumption that any Swede living outside Sweden is corrupt.
With a population of only 9 million—Sweden could be on its way to have a more intrusive government than its big brother USA.
ALL RIGHTS RESERVED
ALL RESPECT DESERVED
Rought translation: If you live abroad
If you live abroad, special rules apply. Your bank needs to know if you have a high political post or high post in the state, a so-called politically exposed persons, or if you are a close relative or a known associate of such a person. These stringent regulations are aimed primarily at combating corruption.
With a high political post or high post in the State referred
• Heads of State or government, ministers and deputy or assistant ministers;
• Members of Parliament,
• Judges of the Supreme Court, judges of constitutional courts or other similar judicial bodies at the high level,
• senior audit of the boards of central banks;
• ambassadors, diplomatic envoys and high-ranking officers in the armed husband, and
• persons who are included in the state-owned company’s management bodies
With close relative meaning
• wife / husband,
• partners who by law is equated with wife / husband,
• children and their spouses or partners, and parents
The information the Bank receives about you is treated as confidential and subject to banking secrecy and the Personal Data Act
SVT story upon FATCA arriving in Sweden
This post is a cross post from: http://bancdelasteroideb612.wordpress.com/2014/10/23/sweden-one-ups-usas-fatca-fbar-assumes-all-of-its-expatriates-to-be-corrupt/
In a four year, $200 billion global development program unknowingly initiated by Congress, the US police force FINCEN has implemented a global tracking system of US citizens, their assets, their bank account numbers, phone numbers, addresses, and their social security numbers. The system allows the US information to be leaked to Al Quada, ISIS, kidnappers, and other affiliates—alternatively to be taken over as rebel groups overtake the areas where these organizations operate.
Greenwald has hopped over it. Snowden missed it–because it isn’t covert.
Crossposting from Story found at this location (please inform all you know of this overt action via all means):
The system was quietly passed in a US domestic Jobs Bill, called the Jobs for Mainstreet Act, 2010 HR 2847. The enactment was nearly invisible to the media, and few of the Congresspersons even realized what it was that they had passed.
With passage of the act, a massive administration misinformation campaign was initiated, saying that the administration and treasury were out looking for 1%’ers and FATCAts. This was to enable a muzzle against resistance and to be able to portray any opposing political parties as supporters of Tax Evasion, initiators of money laundering, harborers of terrorists, and possibly “cat killers”. The misinformation campaign has been largely successful (domestically and internationally), as only a few small media outlets have mentioned it. Only a tiny handful of legislators have dared to speak against it. Members of Congress are terrified to speak against it or of it for well-justified fear of reprisal from captive media.
The administration and Treasury have been traveling extensively to these regions–to train Islamic banks in the techniques of finding “indicia” of US citizens. Upper-level Treasury appointed administers such as Jesse Eggert have traveled extensively through the region for training sessions with Islamic banks. Those IRS officials have been praised by the Sheik of Finance in Qatar for aiding those banks.
This action has been heralded in Russia, Kosovo, Afghanistan, Iraq, Yemen, and Nigeria, where the demand for identification of US citizens has skyrocketed. With this tool, low level employees, administrators, and corrupt bank officials now have access to the most sensitive personal information of US citizens and have no restrictions placed upon them for passing the information onwards to interested individuals and organizations.
The organizations in Afghanistan which are holding this data are: Afghanistan International Bank, United Bank Afghanistan, BAKHTAR BANK, New Kabul Bank Afghanistan, Afghan United Bank Afghanistan, Afghanistan Commercial Bank, Branch, AZIZI BANK, MAIWAND BANK, GHAZANFAR BANK, The First MicroFinanceBank. These organizations, their highlevel employees, and low level adminstrators are known to have ties with tribal heads in their regions. Many of these organizations are tasked also with storing the assets of tribal lords.
In Yemen: Cairnwood Global Technology Fund Ltd, Branch Yemen, Shamil Bank of Yemen and Bahrain, Tadhamon International Islamic Bank, NATIONAL BANK OF YEMEN, SABA ISLAMIC BANK, YEMEN KUWAIT BANK FOR TRADE AND INVESTMENT, Cooperative & Agricultural Credit Bank, Yemen Bank for Rec and Dev, International Bank of Yemen, Islamic Bank of Yemen, lkuraimi Islamic Microfinance Bank, Yemen Commercial Bank, ISLAMIC BANK OF YEMEN FOR FIN AND INV.
In Iraq, United Arab Emirates, Communist China, Algeria, Colombia, Kosovo, and others, a unique agreement between Treasury and foreign governments, code-named “IGA” has been implemented. Here, the Kosovo government has been deputized to store US citizen data. FINCEN has placed a great trust in these governments, because FINCEN does not trust US citizens.
What is an IGA?
An IGA is an Intergovernmental Agreement. In this case it is an agreement with the Executive Branch of the United States Treasury with the mentioned foreign governments. These agreements are not authorized by Congress in the way a treaty would be. Don’t forget, that the Constitution requires any foreign agreement to be ratified or initiated by Congress. And this isn’t. This is solely an agreement between the Obama administration and these selected countries.
This system has begun implementation in more “friendly” countries prior to the mid-term elections. US citizens have already been identified in less sensitive neutral countries such as Sweden, Austria, and Thailand. After elections, the information gathering will be ramped up significantly.
These governments and institutions will be collecting and storing this “FATCA” data outside of US territory for the coming period of 6-9 months. At the end of the period, the information will be shared with the United States police agency “FINCEN”.
A citizen warning has been placed out at the website location below. It is also explained that it is of no help to discuss this with the ambassador in the named countries, because the ambassadors have been tasked to arrange for signatures upon the agreements and to aid in identification of US citizens.
US citizen alert:
List of foreign organizations implementing “FATCA” program
List of countries implementing “IGA” program
ALL RIGHTS RESERVED
ALL RESPECT DESERVED
— U.S. Citizen Abroad (@USCitizenAbroad) October 23, 2014
On October 7, 2014 I posted the new IRS procedures for dealing with Canadian RRSPs and RRIFs (or more precisely the reporting requirements). I posted only the IRS announcement without commentary. As might be expected, the post attracted some interesting comments, including the following comment from Roy Berg.
[We now have a NEW POST taking us up to February 1, 2015. This post will be retired from service.]
THE AUTUMN 2014 UPDATE
Together, we reached our goal of $100,000 to pay the November 1 legal bill 11 days ahead of schedule!
Thank you Canadian donors from coast to coast and our friends from around the world for your generosity, support and determination — and especially for not being afraid.
The name of our non-profit corporation is the “Alliance for the Defence of Canadian Sovereignty.”
We were very deliberate in including in our name the word “sovereignty”, which forms a cornerstone of our Claims against the Government of Canada.
Canada and dozens of other countries throughout the world gave into a bully because their “leaders” were afraid of harm caused by a trading “partner” — and they gave their sovereignties away.
Help us convince by example the Leaders and Governments of all countries worldwide that they should return their sovereignties back to their Peoples.
Please continue to support our lawsuit.
“Alone we can do so little. Together we can do so much.” (Helen Keller)
— Plaintiffs Ginny and Gwen, and the ADCS-ADSC team
Ensemble, nous avons atteint notre but d’amasser 100 000 $ pour payer notre facture légale du 1er novembre 11 jours d’avance !
Un gros merci à vous, donateurs canadiens, et à nos amis de tous les coins du monde pour votre grande générosité, soutien et détermination. Et surtout pour votre courage.
Le nom de notre organisme sans but lucratif est « l’Alliance pour la défense de la souveraineté canadienne ».
Nous avons choisi délibérément le mot « souveraineté » puisqu’il constitue la base fondamentale de nos revendications envers le gouvernement du Canada.
Le Canada et des dizaines d’autres pays se sont pliés devant l’intimidation des États-Unis parce que leurs « leaders » ont eu peur des menaces de notre « partenaire » commercial. Ils ont donc vendu leur souveraineté à rabais.
Aidez-nous à convaincre les dirigeants et les gouvernements de tous ces pays qu’ils se doivent de remettre leur souveraineté à leurs peuples.
S’il vous plaît, continuez à soutenir notre cause.
« Seuls, nous pouvons faire si peu. Ensemble, nous pouvons faire beaucoup. » (Helen Keller)
— Ginny, Gwen et toute l’équipe de l’ADCS-ADSC
UPDATE October 25, 2014
FATCA IGA lawsuit filed by Vancouver Constitutional Litigator Joseph Arvay on 11 August 2014 in Canada Federal Court. Go to our website (en français) and ADCS blog site for information on the litigation.
We need $94,560 MORE IN 97 DAYS to make the February 1 2015 payment for the legal expenses for Plaintiffs Ginny and Gwen’s Canadian FATCA IGA lawsuit.
[Thanks to today's generous first-time and repeat donors.]
Donate ANY amount. Your $25 donations are as important and mean just as much to us as do larger donations. Vous pouvez donner n’importe quel montant. Vos dons de $ 25 sont utiles.
Since June 1, 2014 you “average people” raised (a really incredible amount) $200,000 of the $500,000 legal fees cost. This was used to pay the first (August 1) and second (November 1) of five retainers for the Joe Arvay team.
The next $100,000 bill comes due February 1, 2015.
Le gouvernement du Canada surveille nos progrès sur ce site. Ne laissons pas notre adversaire gagner.
“Yesterday I took FATCA/IBS/ADCS information fliers to the campus of the local university and, for several hours, walked from department office to department office asking the administrative assistant in each office if there were any faculty or staff working there who had US connection; I explained the purpose of my search and gave them fliers to put into mailboxes for these individuals. There were LOTS of OMG moments and only a couple departmental secretaries hesitated to hang up on a bulletin board or circulate these notices.
One fellow I met (just another visitor to the department) was so shocked as I was explaining FATCA and the IGA , he took a flier to give to the US wife of a famous musician he knew well.
Several people I spoke with mentioned departmental deans, research chairs and graduate students that they would pass these fliers on to, or they had friends, neighbors or in-laws who needed to know. The office manager at Indigenous Studies was VERY interested…….
Today I took these fliers to a “Third Age Learning” series and just spread them out on a nearby table; the flier heading just said “SEEKING US PERSONS – – you may need to learn more about FATCA”. About a dozen fliers were picked up during the break or afterward the lecture. Little bit by little bit……”.
“WHAT ELSE CAN WE DO TO SPREAD THE WORD, TO GET MORE PEOPLE TO UNDERSTAND THE ISSUES AND DONATE EVEN SMALL AMOUNTS TOWARDS THE NEXT $94,560???
As Stephen has said, even $25 helps. Would people you know, people in your organizations or your neighborhood dealings, be willing to donate $25 to help re-establish the Charter of Rights and Freedoms and the sovereignty of Canada?”
“When I read about the [donation] burden falling on “average people” I asked myself what is the definition of average?
I consider myself pretty average in most ways, but I’m not in any way typical of the donors to this cause. I don’t even live in Canada – and never have. I live in Poland and I am now in full compliance – as best I can tell [an accurate statement that "compliant" persons rarely make as it is IMPOSSIBLE for any U.S. person living overseas to know absolutely whether he/she is fully IRS compliant] – so FATCA won’t change a thing for me. Moreover, this law suit won’t do much good for me even if you win.
I am retired, so what I own is what I plan to live on for the rest of my life. It cost me a fortune in legal costs to get compliant and I am back to working now to try and recover some of that cost.
Yet I still live in fear that they will come back and impose penalties that would allow them to legally steal everything I have…
Sadly, the average American has no idea that this is even going on.
They believe the things they are told and their honorable representatives are telling them that rich people in America are stealing their money and hiding it in Switzerland.
They are told that FATCA is simply a law designed to help those honorable people get that money back, and those who oppose FATCA are the crooks with something to hide. So support this law and, and by the way, re-elect us for our good service.
So, now I continue to pay thousands of dollars every year to an attorney in the United States to file IRS forms proving that I owe nothing to that country. He is a good attorney and he charges so much because he has so much to do. He earns his money honestly, just as I do.
So this year I simply added an extra $500 dollars to my compliance budget and sent a check to ADCS.
Think of it this way; we pay our Police to fight crime – why not pay lawyers to fight this crime on our behalf? We send money to Japan to relieve suffering after a terrible natural disaster – why not help relieve suffering from this man-made disaster? What ADCS is doing need not be directly for the benefit you or me. It doesn’t even need to be for the benefit of Canada.
What ADCS is doing is for the benefit of everyone who believes in basic justice and human rights. In that regard, I am average; so count me in.”
The time is coming near to when I must surrender. In my country of Sweden, the real Swedish people are being mapped, while the US persons remain out there unidentified. It’s time to do what is right for my Sweden and for you to do what is right your country too. I must turn myself in., and so should you.
My country is spending more than $25 per person in order to find me. This must stop.
I know that I am worth 30 000 SEK to Sweden—they are paying more than $200 million dollars to find all of the US persons here, and there are about 50,000 US persons located here. I can do my part and give myself to Sweden. I am worth 30,000 SEK to them. If all of the others can follow and do the right thing, the country will be saved and the FATCA money can go back to being spent upon real Swedish people.
Soon, I shall dress myself up, and take myself first to my bank. I will take my number in the bank line, and when I reach the front of the line, I shall declare: “I admit, I am a US person” “Please save Sweden from me”.
From there, I shall walk to the local tax authority skatteverket, and I shall again take a number for the que. When I reach the front of the que, I shall humbly state “I am a US person” “Please save Sweden from me”
I shall pick the appropriate time, Perhaps it shall be Tuesday, the 11th of November, at 9:30 pm, depending upon what is convenient, and if anyone should decide to accompany me.
Perhaps someone shall also be willing to do the right thing. The world must be saved from these US persons and Sweden must be saved from me.. I shall turn myself in. So should you.
I shall do my part to save Sweden from me, for I AM A US PERSON.
Cross post from
(Read the other articles, too)
— Sarah Chapman (@sarah_chapman) October 21, 2014
— Sarah Chapman (@sarah_chapman) October 22, 2014
Blog of an accidental just discovering the fact.
It’s a sunny day in Soho, London. I call my father.
‘Hello Dad. I got this funny letter from Santander. It’s about tax, or something. Uh, am I still an American?
I was born in New Brunswick, New Jersey in 1982. 13 months later, we moved to the UK, where I have lived ever since.
As a baby, I had an American passport. As a child and throughout adulthood, I’ve only held a British passport. I’ve been back to the US once, for a short holiday in 1997.
‘You’re American-born. I suppose that means you’re still an American?.
As it turns out, it does indeed. I am an American. I am an American who cannot remember living in America. I am an American who cannot name more than a dozen American states. I am an American who has never voted in an American election.
I am an ‘accidental American’. And for that I will pay. Literally.
This is one more example of the United States imposing citizenship on people because they were born in the U.S. Is citizenship something that one chooses or is citizenship something that is forced upon you? Does any country have the right to impose citizenship on residents and citizens of other countries? Is citizenship a “property interest” that a government has in people? Does the U.S. government believe that it has ownership over anybody born in the United States?
The Obama administration has made U.S. citizenship such a burden and devalued it to the point where people are happily paying money to be rid of it.
But, the U.S. government is making it very difficult to relinquish U.S. citizenship through the available statutory channels. This is clear from the:
- outright refusals to recognize past relinquishments
- outrageous wait times and inability to get appointments
- the outrageous and unjustifiable fee increase to renounce U.S. citizenship
- the imposition of Nazi and Soviet style exit taxes
It’s certainly “change we can never believe in”.
This is going to get very very nasty.
On the one hand we have a U.S. Government that says:
“You are our property until we say you are not”.
On the other hand we have those who don’t believe they are property and will say:
“I am a free person. How can I then by a citizen of the United States?”
NB: Ms. Chapman has received several tweets inviting her to Brock, Sandbox and ADCS-ADSC sites.
cross-posted with permission