FATCA and the Netherlands
Posts on The Isaac Brock Society website concerning FATCA and the Netherlands
For articles on other websites, see Media and Blog Articles
For general discussion of FATCA, see FATCA Discussion Thread
31: Dutch banks ask: Do you remember where you were born or were you in fact born in the United States?
18: More Recent Anti-U.S. FATCA/CBT Activity in France, Netherlands, and Canada by Government Officials
01: U.S., U.K., Canada, Australia and Netherlands form international tax enforcement group
14: U.S. consulate in Netherlands ignorant of 9 FAM 202.1-2 regarding visa issuance to person with possible claim to U.S. citizenship?
01: Dual Citizens of Sweden, France, Netherlands, Denmark & Canada take note! Your Country WILL NOT Collect for the U.S.
27: Pushback to #FATCA in France, Italy, Holland & Israel
14: Dutch Board for the Protection of Human Rights rules against FATCA nationality discrimination
21: More from MEP Sophia In’t Veld today on FATCA
22: New questions from MEP Sophia In’t Veld on FATCA
04: MEP Sophia In’t Veld discusses FATCA in EU Parliament
01: Dutch Finance Secretary sidesteps hostile questions from lawmakers on FATCA
A loss for the Dutch government and the banks in courts, Dutch court rules the De Volksbank may not close accounts of accidental Americans for suspected tax evasion simply because they have not provided SS numbers or CLN.
Not sure of the details yet, but as far as I can tell and as it stands, the Dutch government are going to have no choice but to go back to the US and ask for changes to the agreement, or does the US close down the Dutch banking sector?
This is certainly a fun development.
Liked the use of ”unintentional” american.
Well that is good news. Fun times ahead. A Dutch court just declared a significant piece of the IGA to be invalid.
I can’t remember if the cranky protagonist – bless his heart – either had an SSN and refused to provide it, or didn’t have an SSN and refused to obtain one. To the extent that I can decipher that horrible machine translation, it sounds like the court determined that “not filing US tax returns” does not equal “tax evasion”.
Court tells Dutch banks to stop closing accounts on US citizens. I can’t see rest of the article, but it may be these US citizens are dual EU as well. Under EU law, all EU citizens have the right to a basic bank account.
This may have something to do with it.
Better article with more text.
The Bloomberg Tax article is paywalled, unfortunately. A few interesting points in the second, free article.
There was no direct reference to the customer’s refusal to obtain an SSN. I would infer from the comment about banks not being required to report accounts under $50k, however, that the court may have ruled that banks cannot demand an SSN (or threaten to close accounts if one is not provided) when the customer’s balance remains below the FATCA reporting threshold.
As for the use of tax evasion nonsense, the article explains that very succinctly:
We made this rather obvious point a year ago when the story first surfaced.