In an article at Bangkok Post. Andrew Wood writes “the arrival of FATCA has given rise to some myths”, and:
All institutions worldwide will be required to report any US citizen’s account with a value exceeding US$200,000 (6.47 million baht) for non-resident expats. That means that if you have a bank account, the details could be sent to the US Internal Revenue Service (IRS). This may seem significant, although if Americans worldwide were acting as they should, it would be insignificant and even unnecessary.
The entire article can be read here: http://www.bangkokpost.com/news/investigation/401244/is-fatca-just-for-fat-cats-us-expats-beware
@TheMom, Just curious, are you hearing any rumblings in the SOO about FATCA (you do live in the SOO right or have I confused you with another Brocker?). You would think, being a twin city, that would be news there, but to date I have heard nothing…tried a couple times to get an opinion letter in the Sault Star but didn’t have any luck.
@ calgary411
I know he’s been asked but I like to prod a little bit anyway. I’v got a comment in moderation at CPI Financial — at least it was a chance to plug ADCS.
Good stuff, EmBee!
@EmBee, @calgary411
Mr Green would never donate to our cause… its bad for business… some may look at it as a good thing… some may take it a different way… for his business… even though he is oral about the issue… he can’t fully commit because he must appear neutral… But if we get a large donation from Europe… I ain’t stupid… cash that sucker fast… I could care less if the name on the money order said Daffy Duck or Mr Dressup… a donation is a donation….. as long as ADSC or anyone else that can cash it… go for it…. We will never let pride stand in the way of a donation….
“@TheMom, Just curious, are you hearing any rumblings in the SOO about FATCA (you do live in the SOO right or have I confused you with another Brocker?). You would think, being a twin city, that would be news there, but to date I have heard nothing…tried a couple times to get an opinion letter in the Sault Star but didn’t have any luck.”
@White Kat, no, you’re not confused. Not surprised about the Sault Star. No one reads it anymore, few reporters left, prints in Barrie.
I’ve been too busy lately to do it, but the person to contact IF he’ll write about it is David Helwig at Soo Today. It’s online only, is where everyone goes to read local, and has recently merged with Sudbury and North Bay (possibly Timmins, and a few others) under ownership of Village Media. There’s also the Northern Hoot, that I recently found, they do in-depth stuff. I think the local reporter is Steph Petroni, but not sure.
I hear squat around here, everyone I knew moved away while I lived away. I also had to educate several people at my bank. Surprising for a border town.