WITNESS SEARCH UPDATE FOR CANADIAN FATCA IGA LAWSUIT:
WE STILL SEEK MORE CANADIAN WITNESSES:
Have you experienced marital stress or breakup, or medical or psychiatric illness because Canada turned you and your family over to a foreign country — or because you were afraid and entered into IRS compliance and suffered harm, or because you are in “hiding” and can’t afford to be IRS compliant or to renounce? Be a witness.
No single witness will be “perfect” from a litigation point of view. We will be seeking more witnesses (almost) right up to the time of submission of court documents. Your specific situation, that we cannot predict, might have unique characteristics that would be helpful in the lawsuit.
If you cannot be a witness, please tell a friend who you think might be interested.
— If you are interested in becoming a witness You will describe your harm in a written affidavit which will be made public and you can contact me at stephen.kish.chair@adcs-adsc.ca See our website at www.adcs-adsc-ca
FOR THOSE CANADIANS WHO ALREADY VOLUNTEERED: Unless you have already been informed by me or by our legal team that you will not be a witness, there is still the possibility — or (for some) likelihood — that you will be asked to be a witness. I’m sorry but I cannot estimate the time it will take for our legal team to get back to you with their decision. This is because they need to “mesh” the characteristics of all of the necessary witnesses and testimonies with the actual detailed submission that contains the entirety of their evidence, which are all still evolving. Please be patient in our getting back to you with a decision. Thank you for your help.
@Heidi, we have to agree to disagree. The core for me is that I have no trust in and will not side with Obama and Goldman Sachs. I have and my family has personally suffered massive financial bleeding and will suffer more as my children hit 18.
Obama and Goldman Sachs are not my friend.
@George
I was certain that when Obama came out with his edict in support of remain, that it would have the opposite effect on convincing people to leave. We here have all suffered because of his policies, and I feel betrayed when I and others had such high hopes of him after Bush.
I just believe if we leave the EU, we will be thrown closer to the US without the protection and without the checks and balances that the EU seems to offer.
Time will tell. I wish you well my friend.
From my post:
[Case Management Judge needs to receive status report by June 13.]
WE STILL SEEK MORE WITNESSES: No single witness will be “perfect” from a litigation point of view. We will be seeking more witnesses (almost) right up to the time of submission of court documents. Your specific situation, that we cannot predict, might have unique characteristics that would be helpful in the lawsuit.
If you cannot be a witness, please encourage others on this “witness” post to volunteer.
— If you are interested in becoming a witness You will describe your harm in a written affidavit which will be made public and you can contact me at stephen.kish.chair@adcs-adsc.ca See our website at http://www.adcs-adsc-ca
@Heidi
“I was certain that when Obama came out with his edict in support of remain, that it would have the opposite effect on convincing people to leave.”
Bingo! And that means the US’s real position is… that they WANT the UK to be sliced away from the EU, of course.
IMO, Brits should NOT take into account the US’s stated position when making their decision. We can’t really know what they want or don’t want. It’s all just one big psyop, y’know.
@hardpressed
I did wonder that, but I find it hard to credit them with that amount of perception. They are entrenched with the idea that they are exceptional and we would all harken to their advice!
I just think they want us to continue to be their stooge inside the EU, but I think and hope the EU is cognisant of that.
@Stephen, “No single witness will be “perfect” from a litigation point of view.”
All I can give is my moral support and assorted colourful currency and nice stamps….
Your simple words above hit right to the issue. I think many and I stand guilty as well, think there is the silver bullet witness!!! NO thats not true and you stated the obvious which we all needed.
As you know victory in Canada will not solve the problems for my family but it will be the shot around the world.
Aw George, you know how to break a girl’s heart. Here’s me thinking that you thought I was perfect:-)
Things are moving along daily and we are so thankful for the applicants we have received and will receive.
All good courageous people, and none of us is perfect. I appreciate how difficult it has been for those who have come forward. In my view, that makes them perfect- ordinary people just trying to live their lives, protect their families and deal with this nightmare. As we all are. The support from people who do not live in Canada has meant so much to us and we hope our case will help others.
@All
Does anyone know if home or car insurance is part of FATCA?
Any information is helpful
Bill, No. Only life insurance policies that have an actual cash value, which would only be a ‘whole life’ type of insurance as opposed to ‘term life’ (the most common type of life insurance).
Bill, car and home insurance have no cash value.
@bill – Form 8938 instructions refer only to cash value life insurance – so home and car insurance would not be reportable on form 8938. Additionally, the definition of FFI (e.g. ATO guidance) specifically excludes risk insurance companies – so insurance companies writing home, car, and medical insurance policies would not be subject to FATCA reporting rules as they do not have a cash surrender value.
btw, whole life policies are usually not a good investment. If you want life insurance buy life insurance (i.e. term life), not whole life (I used to work at an insurance company). Not to mention that term life is not reportable to the Slave Masters who are only interested in counting our gold.
Bill, If you have more questions, would suggest you ask them in the ‘Ask your questions’ section rather than this post.
Are pre-paid cards, like London’s Oyster Card and BC Ferry’s Fare Saver Card reportable?
http://isaacbrocksociety.ca/2014/10/21/fatca-has-no-maximum-only-minimums-fatca-comes-to-sweden/comment-page-1/#comment-3554187
From the top of this post:
WE STILL SEEK MORE WITNESSES: No single witness will be “perfect” from a litigation point of view. We will be seeking more witnesses (almost) right up to the time of submission of court documents.
Your specific situation, that we cannot predict, might have unique characteristics that would be helpful in the lawsuit. If you cannot be a witness, please encourage others on this “witness” post to volunteer.
— If you are interested in becoming a witness You will describe your harm in a written affidavit which will be made public and you can contact me at stephen.kish.chair@adcs-adsc.ca See our website at http://www.adcs-adsc-ca
Prepaid cards not reportable, at least according to the accountant I used to renounce and expatriate. I asked about gift cards/phone cards, etc.
@Ann, on many occassions I have been told all forms of prepaid and gift cards, to include oyster cards, are reportable for FBAR.
BB. There I as good reason to report prepaid cards as well as credit on your Starbucks loyalty card and any credit balance on your credit card . Maybe throw in your Aeroplan points as well
The idea is to put sand in the wheels, gum up the works and drive them crazy.
P.S. That was a joke! Anybody dumb enough to report prepaid and gift cards deserves to be fleeced by their accountant.
@Duke of Devon
*Anybody dumb enough to report prepaid and gift cards deserves to be fleeced by their accountant*
If u have no clue… u assume that the expert knows better then you. I forgot who it was but it was on this mb… they had to report the balance on a sim card… How much money could be on that… most I have is $30 depending on the country… I got a wallet full of sim cards and my name is not associated with it… There is no such thing as an expert in this bs… each expert does it the way they read it… right or wrong… fear mongers are doing everything they can to stir the crap up to make as much money as they can… if its done wrong… its not their problem… its yours…
News from the EU..sort of…
I have grown extremely negative on the chance for getting political change or FATCA IGA litigation here in the EU. This is based on hearing the underlying sentiments in the Brexit debate.
It has been taking form that the UK/EU hybrid immigration system is in fact racially discriminatory as “white Europeans” are at the front of the bus and Asians, Africans and Caribbeans(Non-EU) are at the back of the bus if they are on the bus at all.
The leave side has actually adopted our favorite phrase “place of birth discrimination.” Initially I saw this as a positive breakthrough, light at the end of the tunnel an opening that could help fight FATCA IGA.
Then the debates started and I have been to several local debates which often involve low level or former MPs. Publicly the remain side is OK with this discrimination BECAUSE it means that the UK has access the the “largest trading bloc.” So place of birth discrimination is fine if it guarantees access to the all mighty trading bloc!
Sound familiar?
And take a look at this tweet from a former UK Conservative MP;
“Sovereignty is overrated. It wont pay the rent or put dinner on the table, it wont keep people in jobs.”
https://twitter.com/Edwina_Currie
Who is this person, “Writer, Broadcaster, Politician. Former Chairman of Conservative Group for Europe.”
This past week I have been thinking of you guys, the Charter and the over ride mechanism.
I have lost all hope in the EU in challenging FATCA as its all about trading blocs, “free trade” and market access. Sovereignty is “overrated” here in Europe.
Sad George
PS. Stephen, I will send some colourful money and stamps for the US litigation, no sense in saving ££££ for EU litigation.
George, you have been such a constant source of calm and comfort to those on this site, it really pains me to see you so discouraged. I am one of those ancient, long term expats for whom there is no way forward, stuck between the denial of a CLN and the exit tax. Oddly enough, the fact that there is nothing I can do about this means that I am indeed free to do exactly that: nothing. So I hide and I ruminate. There is a calm in that. It is beyond dispute that this whole FATCA business is wrong, no matter how you slice it, and our governments should be ashamed of themselves for agreeing to it. But I also think that in the long term the whole thing is unworkable and will, eventually, collapse under the weight of its own absurdity. Can you wait out this storm? I firmly believe that this will pass and that those of us who have chosen to ride out the storm in the basement will someday be able to emerge into the sunlight. Actually, given that I have no real options available to me to resolve my situation, the basement is THE PLACE TO BE. George, I think Brexit is getting to you, and understandably so. Detach for a while. Go for a walk. It’s spring. I hate to see you so upset.
Here’s an article that discusses the progress (or lack of) that the USA is making towards FATCA reciprocity:
http://www.thetaxadviser.com/issues/2016/jun/problems-looming-for-fatca-and-reciprocal-iga.html
My guess is that that the USA will sail past the December 31, 2016 date by saying they are working on reciprocity and the unreciprocated countries will accept that as meekly as they did the IGAs in the first place.
@Embee, of course they will skate and the rest of the world will take it because after all ““Sovereignty is overrated. It wont pay the rent or put dinner on the table, it wont keep people in jobs.”
@everyone
Can anyone help with advice?
If you are a treasurer of an condominium board the money in the bank is for the exclusive for condominium repairs/maintenance. Does the condominium bank account have to be filed on a FBAR?
Does the bank under FATCA have the right to ask who all the owners of the units of the condominium are?
John