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riverbendviewgal

(4,251 posts)
Sat Sep 6, 2014, 09:45 PM Sep 2014

The Post Office has said it will no longer stop US citizens from applying for a cash Isa

The Telegraph in UK writes ;

"Among those who would not have been able to take out a Cash Isa with the Post Office is Boris Johnson, the Mayor of London, who was born in New York and holds a US passport.
Under Fatca banks must report the names and financial details of US customers to America’s Internal Revenue Service (IRS).This is costly, which is why some organisations, including National Savings & Investments, have decided not to comply and have instead closed the accounts of US nationals.
Other innocent Britons are also caught up if they own trusts, for instance. It appears the Post Office was adopting this approach – even though Isas should not fall under Fatca’s reach.
Following our questions the Post Office has changed its stance."

The comments are mixed. Remember, this is from the UK.
One comment was very interesting.... Seems that If W was tried as a war criminal in the Hague then the USA would have invaded Netherlands. I didn't know that.

" The funniest (scariest) thing which shows the US went way beyond the realms of hubris into a world of total fantasy under Bush (and are now in 1984 with Obummer), was a law passed through both houses and supported by both sides in 2002. You probably didn't hear about it.

http://en.wikipedia.org/wiki/A...

To whit, the law empowers the USA to invade the Netherlands subject to a US citizen being tried at the Hague as a war criminal.

As in, because us US citizens are all "exceptional", we are above the laws of the ICC that apply to everyone else. Sound familiar? If you cast your minds back 70 years or so?"
http://www.telegraph.co.uk/finance/personalfinance/tax/11077310/No-Isas-for-Americans-Post-Office-overreacts-over-hated-US-tax-law.html

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