FATCA and France

97 thoughts on “FATCA and France”

1. @ Duality
   Just plugged that article in for a translation and I have to say WELL DONE to the 150 demonstrators. CBT/FBAR/FATCA is a variation of warfare and we need peace for all those living outside the USA who are deemed “US tax residents” and therefore targets for asset tapping.

2. https://www.europarl.europa.eu/committees/en/peti/home.html
   “Highlights
   Petition on FATCA: Debate – 21.02.2019
   06-02-2019 – 15:01
   Complying with the US Foreign Account Tax Compliance Act, USA patriotic old flag on a stars with weathered wood background with text FATCA

   The Committee will discuss a petition raising concerns about the effects of the US Foreign Account Tax Compliance Act (FATCA) and its implementing intergovernmental agreements on dual EU/US citizens and on so-called “accidental Americans.” Accidental Americans are EU citizens whom, by an accident of birth, inherited US citizenship, but who maintain no ties to the US, have never lived, worked or studied there, and do not hold US social security numbers.

   The main issues raised in the petition concern the alleged infringement of EU privacy and non-discrimination rights as well as the extraterritorial impact of citizenship-based taxation.”

   Further information
   Meeting agenda and documents

3. http://www.europarl.europa.eu/committees/en/notices-to-members.html
   NOTICE TO MEMBERS – Petition No 1088/2016 by Mr J.R. (French) on the US’ Foreign Account Tax Compliance Act’s (FATCA) alleged infringement of EU rights and the extraterritorial effects of US laws in the EU
   Date : 04-02-2019
   Reference :
   PETI_CM(2019)607954 PE 607.954v03-00
   PETI

   Documents in dossier PETI/8/10404

4. @badger

   Thanks for your recent posting. Is there anything new in J.R.’s petition? Is it being revisited?

5. Apparently the Commission has revised its response again, and the latest revision includes mention of a fact-finding mission by “the data protection authorities” to the Member States in 2019.

   With respect to personal data protection, the Commission recalls that the independent data protection authorities of the Member States are in charge of enforcing the applicable rules. In a statement published in February 2018, those authorities came to the conclusion that there were no occasions where the processing including the transfer of personal data under the FATCA regime had to be prohibited. The Commission has, in the meantime, been informed that, on the basis of exchanges with the collective of European ‘Accidental Americans’, the data protection authorities will launch a fact-finding exercise in 2019 in order to further clarify the situation in the Member States. The Commission is in regular contact with the data protection authorities and continues to closely monitor any new developments in this file.

   http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-607.954+03+DOC+WORD+V0//EN&language=EN

6. @plaxy

   “the data protection authorities will launch a fact-finding exercise in 2019 in order to further clarify the situation in the Member States”

   Oh dear, another obvious outcome. Will the fact-finding exercise illustrate the following?…

   Discriminate.
   Compel.
   Transfer data.
   Repeat.

   I think not…

7. Unfortunately, I think the “data protection authorities” are likely to find that all is well. 🙁

8. However, I may be being over-pessimistic. Here’s the blurb about the data protection authorities:

   DPAs are independent public authorities that supervise, through investigative and corrective powers, the application of the data protection law. They provide expert advice on data protection issues and handle complaints lodged against violations of the General Data Protection Regulation and the relevant national laws. There is one in each EU Member State.

   https://ec.europa.eu/info/law/law-topic/data-protection/reform/what-are-data-protection-authorities-dpas_en

9. @plaxy

   If I remember correctly, the French litigants are fighting FATCA on grounds of IGA non-reciprocity. They ought to have considered the GDPR breach as well.

10. I think the legal case is about discrimination and the GDPR as well as non-reciprocity.

11. @Duality, apologies, didn’t respond because I hadn’t been on for a few days.

    Thanks @plaxy for weighing in. At first I couldn’t see what was new about the latest on JR’s petition, but then saw what you described, re “..“the data protection authorities will launch a fact-finding exercise in 2019 in order to further clarify the situation in the Member States”…”.

    I search the EU site using the keyword ‘FATCA’ or J. R’s petition # from time to time just to see if anything new has popped up (though I find the results confusing to sift through sometimes).

12. I wish them luck. It’s really admirable and impressive (IMO) the way they’ve gone about things, launching the petition, winning the support of Parliament and now the legal action approaching.

    Whatever the outcome, the AAAs have certainly made the case, clearly and effectively, and got it on the EU record. I thank them.

13. I agree. I believe that numbers must have also played a role in their successful campaign. The Accidental American community in France is unarguably much larger than in the smaller Member States so is able to support such an initiative. Our fellow Europeans here should laud them for their progress, which may eventually lead to the European Court of Justice.

14. I read somewhere that the group has 680 members, which doesn’t seem all that large. They just seem to be very well organised, and knowledgeable (or well advised).

    “…which may eventually lead to the European Court of Justice.”

    Let’s hope.

15. “I read somewhere that the group has 680 members, which doesn’t seem all that large.”

    Probably so, but it is believed that there are many more thousands across France who are unaware or may just be bystanders. (I was active years back in corresponding but was never a member of any group; I’m now a bystander due to a busy life.) The commitment and organisation shown by the 680 has paid off. I imagine it would have been tenfold more difficult, say, in Hungary…

16. Duality said:

    If I remember correctly, the French litigants are fighting FATCA on grounds of IGA non-reciprocity. They ought to have considered the GDPR breach as well.

    I said:

    I think the legal case is about discrimination and the GDPR as well as non-reciprocity.

    The GDPB statement (https://edpb.europa.eu/sites/edpb/files/files/file1/edpb-2019-02-12-25-fatca_statement_en.pdf) says “legally binding instruments do not require specific authorisation from a supervisory authority.”

17. ‘Accidental Americans’ in France file discrimination lawsuit’
    https://www.reuters.com/article/us-france-us/accidental-americans-in-france-file-discrimination-lawsuit-idUSKCN1R825K

    https://www.lesechos.fr/finance-marches/banque-assurances/0600977092166-fatca-les-americains-accidentels-poursuivent-plusieurs-banques-en-justice-2255788.php

18. Who are France’s ‘accidental Americans’ and why are they suing big banks?
    4 April 2019
    https://www.thelocal.fr/20190404/who-are-the-accidental-americans-in-france?fbclid=IwAR2gPLfhWLPhfJUuxECuEo7BGL6EBpxpEP4as9lXr_MHwDqqcleDy98KCKs

19. US tax authorities admit to ‘wrongly collecting millions of dollars’ from Americans in France, The Local, 17 June 2019.

    US Citizens in France Win 7-Year Fight With the IRS, Gregory Viscusi, Bloomberg News, US.

20. France sued by ‘Accidental Americans’ over Fatca
    By Cristian Angeloni, 4 Oct 19
    https://international-adviser.com/france-sued-by-accidental-americans-over-fatca/

21. It seems that French banks at this present time may be especially busy checking account holder information. Anecdotal évidence specifically that Société Général may now suddenly be asking for Birth Certificates from long-standing customers, where typically a copy of ID and proof of address were asked for every 5-10 years or so. Does anyone have any further information?

22. I live in Switzerland and renounced my US citizenship back in 2012. I also have had a French bank account since 2010 opened with a non US passport. I have never been asked to re certify until now. I also had to show them a birth certificate ( non US birth place) but I had my cln ready just in case. I asked why they needed to recheck all my criteria and was told that post Covid they have mountains of paperwork on desks and they are moving to a new digital system…. Yeah right!