Fidelity InvestmentsFidelity Investments is an American multinational financial services corporation. It is one of the largest mutual fund and financial services groups in the world. It was founded in 1946 and serves North American investors.

In the following it can be seen that Fidelity Investments directs U.S. persons who do not live in America to its international investment site:

Open an AccountThis site is for U.S. residents with a valid U.S. address. Not a U.S. resident? visit our International Investment site.

At its international investment site, it informs U.S. persons that they are denied services at this site.

International Investment siteFidelity does not offer these products or services outside their intended countries or regions, and purchase orders from U.S. investors will not be accepted

As such, Fidelity Investments are available to everyone except for American citizens living abroad, it appears.

So, I called to inquire on the matter. First, I was told that they do not accept foreign addresses. Yet, when I explained that I was an American citizen who does not live in America and that I was denied services at the international site, I was informed that I can open up a US investment account from within the US using my foreign address, or I would have to do so via international snail mail. Sadly, in the year 2012 with all the latest and greatest tech gadgets and possibilities, everyone but American citizens living abroad can open up an account using the internet.

Here is an article that I just came across which list the top U.S. based tax havens.

 American Tax Havens

 
A few years ago, in another context, for another purpose, I did a piece of drudgery with the annual series publication Canadian Citizenship Statistics [0575-8033] 1952-1991. Unfortunately the issuance of that series terminated in 1991 just as an interesting trend seemed to be developing. Here is the overall of the results from that compilation effort. These numbers are for persons who immigrated to Canada and also had United States as “country of former allegiance.”

Some people I’ve met and talked to in the past year are still “US only” and not dual — here’s guessing, on the basis of the data below, that the great majority of US-born having non-Canadian parents are still US only and therefore subject to IRS enforcement within Canada, not least of which is Form 8938 new in 2011. It would be a lot of fun to see these same figures for 1992-2011 and forward.
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‘As mentioned in our call (bubblebusin’s husband), IRS is a budget issue, given the large amount of funds potentially payable to the US Government by Canadians; the effect on many self-employed people and entrepreneurs of compliance with these rules; and the damage to bilateral trade and commerce should the Americans make FBAR compliance and issue relevant to trans-border activity.

You may want to make a Pre-2013 Budget Submission to the Finance Committee, if only to get the matter onto their agenda.

Finance Committee of the House of Commons: Deadline-Aug 3, 2012 for initial submission (elaboration may be provided thereafter)

Go to the Finance Cttee website-“Pre-Budget Consultations”. Complete the 5 questions, which, among other things, advise the Committee how the proposed project may advance the Conservative Government’s priorities of the promoting economic growth and jobs.

http://www.parl.gc.ca/CommitteeBusiness/CommitteeHome.aspx?Cmte=FINA&Language=E&Mode=1&Parl=41&Ses=1

Last year, the Finance Committee received over 400 submissions. Only 100 groups were invited to present. The proponents should clearly identify their interest in presenting their case to the Committee. A brief submission is more likely to be read than a long one. The deadline of Aug 3 is critical, even if more information has to be provided later-at least answer the 5 questions!

Should you proceed, John would back you up with a submission to the Minister of Finance in the Fall.’

If I am fortunate enough to have Mr Weston back me up with a submission made directly to the Minister of Finance, I would REALLY appreciate it if all Canadian Brockers help me craft something that best expresses our concerns.

Please use the link to the questions, and post here any comments that would be relevant to any of the questions.

This question has been kicking around for several days so I sent a letter to the Halifax consulate:

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The CEO of the Financial Services Council (FSC) has headed to Washington DC this week to argue that Australian super funds should be exempt from the reach of the Foreign Account Tax Compliance Act (FACTA) regime.

FSC in Washington to lobby for Aussie Super exemption from FACTA

If found this in the Swiss MSM today.

They never forget.

Sorry for the poor translation. 🙂

No the lady was not beaten.  They just meant to say that this due tax is more than 55 years old 🙂

For those who understand German here is the German link.

Steuer-Irrsinn!