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FATCA Kenya
Rank: New-farer Joined: 5/22/2014 Posts: 56
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I was told that i have to complete this funny form which was mandatory. Meaning, if i have more than a Mil in any or combined accounts, its then reported to the IRS.. Seriously???? What happened to sovereignty?
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Rank: Elder Joined: 6/23/2009 Posts: 14,086 Location: nairobi
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Dawnwoods wrote:I was told that i have to complete this funny form which was mandatory. Meaning, if i have more than a Mil in any or combined accounts, its then reported to the IRS.. Seriously???? What happened to sovereignty? 9/11 happened to sovereignity. Nothing to hide, nothing to fear..
KQ ABP 4.26
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Rank: Elder Joined: 12/17/2009 Posts: 3,583 Location: Kenya
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obiero wrote:Dawnwoods wrote:I was told that i have to complete this funny form which was mandatory. Meaning, if i have more than a Mil in any or combined accounts, its then reported to the IRS.. Seriously???? What happened to sovereignty? 9/11 happened to sovereignity. Nothing to hide, nothing to fear.. I thought it only applies to americans only, ama hata kenyan citizen details are sent to irs.
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Rank: Member Joined: 11/17/2009 Posts: 399 Location: Where everyone knows you
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I believe this requirement only applies if you bank with a multi national bank that has operations in the US.
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Rank: Member Joined: 8/27/2010 Posts: 495 Location: Nairobi
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Quote:FATCA will have no impact on you if you are not a U.S. person and hence no further action may be required. However, in certain circumstances, the Bank may require your action or confirmation to determine the correct status, for example through submitting declarations as may be required to update your information with us. Foreign Account Tax Compliance Act Q&A from NIC Bank Kenya. Sent from my Black Nokia 3310
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