Posted on April 13, 2015 by Joe Smith Posted in Issues regarding US persons abroad 3 Comments Looks like Exemption #2 is the Winner. BDO CANADA, April 15, 2015: Tax Alert – FATCA and Canadian Credit Unions Share this:TwitterFacebookEmailLike this:Like Loading...
There is an ongoing thread at Maple Sandbox concerning which Canadian credit unions have applied for Exemption #2. One is Alterna Savings in Ontario; another is Vancity. See the link below for more details and updates.
Thanks for this. It clearly defines the credit union exceptions to FATCA. I will post a link to the BDO article on the Maple Sandbox thread referred to by Schubert. Many are looking for clarification about the credit unions as the banks will surely be handing us over to the IRS.
Thus, here is a cross-post of that comment here: