Euro Pacific Bank EPB vs uphold.com
- Thread starter miner
- Start date
- Status
FATCA is 100% bilateral.
See article 2 of the UK/US FATCA Agreement. it is the same for all other FATCA agreements.
https://www.treasury.gov/resource-c...es/Documents/FATCA-Agreement-UK-9-12-2012.pdf
See article 2 of the UK/US FATCA Agreement. it is the same for all other FATCA agreements.
https://www.treasury.gov/resource-c...es/Documents/FATCA-Agreement-UK-9-12-2012.pdf
The US does not need to join CRS as they have FATCA which is very similiar. You do not need to enact two laws to do the same thing. US had created FATCA and implemented it before CRS. It should in fact be OECD and CRS implementing FATCA properly for its citizens instead of re-inventing the wheel.
Article 2
https://www.treasury.gov/resource-c...es/Documents/FATCA-Agreement-UK-9-12-2012.pdf
1. Subject to the provisions of Article 3, each Party shall obtain the information specified in paragraph 2 of this Article︀ with respect to all Reportable Accounts and shall annually exchange this information with the other︁ Party on an automatic basis pursuant to the provisions of Article 27 of the Convention.︂
Article 2
https://www.treasury.gov/resource-c...es/Documents/FATCA-Agreement-UK-9-12-2012.pdf
1. Subject to the provisions of Article 3, each Party shall obtain the information specified in paragraph 2 of this Article︀ with respect to all Reportable Accounts and shall annually exchange this information with the other︁ Party on an automatic basis pursuant to the provisions of Article 27 of the Convention.︂
If there was a TIEA or DTC signed with the USA before FATCA, the intergovernmental agreement (IGA) will be "Reciprocal".
It the same for EVERY fatca agreement. Read them and not some wiki page written by an 8 year old.
Thanks. It is clear FATCA is bilateral if people simply read article 2 of any of the agreements.
I think you will find that Nigerian banks have already implemented FATCA years ago. FATCA does not require an IGA with a government to exist. Any financial institution outside the US can register directly with the IRS and start reporting US persons.
You can check below if your financial institution is registered with FATCA. 64 Nigeria financial institutions already have.
https://apps.irs.gov/app/fatcaFfiList/flu.jsf
You can check below if your financial institution is registered with FATCA. 64 Nigeria financial institutions already have.
https://apps.irs.gov/app/fatcaFfiList/flu.jsf
EPB cards are Mastercards provided by the below company. You can use in most countries.
Payment Solutions | Prepaid Financial Services | PFS
Unless you want a card to withdraw cash from cash from an ATM or use in a store then I don't really see the point of a physical card. Most people use the cards for online services.
Payment Solutions | Prepaid Financial Services | PFS
Unless you want a card to withdraw cash from cash from an ATM or use in a store then I don't really see the point of a physical card. Most people use the cards for online services.
I don't think that is true. US reports when requested, but not on their own. Can you link to law which says it is bilateral automatic exchange of information?
Ok, where is it is said WHAT︁ kind of information is automatically provided? Names, account balances at end of year? What info︂ is it?
Ok, where is it is said WHAT︁ kind of information is automatically provided? Names, account balances at end of year? What info︂ is it?
Lets keep discussion in one thread. Discussion is in below thread. I believe you have now read the article by your response in the thread below and have your answer.
Do I understand that US financial institutions DO NOT report non-us person deposits in them?
Do I understand that US financial institutions DO NOT report non-us person deposits in them?
- Status