# Bank sent w-9 / FATCA



## dtintheeu

Hello everyone,

First I would like to thank all of you for this great forum!!

I have been living in Germany for 17 years and just found out that as an American I need to file in the US. I seems there are many of us out there! I have been informing myself as to how I should best do it, then comes a letter from my bank asking if I am a US citizen and a W-9 form which I need to send back within 4 weeks!

I am planning on getting myself back in line with my US taxes, but I am not sure if sending this form now is a good Idea? Does anybody have an information about this?
I have nothing to hide, I just want to do it right.

Thanks for any advice


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## FFMralph

Germany has signed the FACT agreement with the U.S. and your bank is just meeting these requirements. Your bank has identified you as being a possible American citizen. If you do not sign it, your bank will end your contract with them. If you make a false statement, you are in violation of German banking law. *So sign it and file your last 3 yrs. tax returns as soon as possible.* I can help if you need help. Just contact me thru a private message.


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## Bevdeforges

As FFMRalph says, just fill out the W9 and send it back to the bank. The fact of returning the form doesn't necessarily mean that the IRS is going to be looking for your tax returns, or even for your FBARs, for that matter. 

As for getting straight with the IRS on tax filings, the easiest way is probably using the Streamlined Compliance process: Streamlined Filing Compliance Procedures

But it will be quite a while yet before the IRS can match up all this new data they will be receiving against whatever filings you should have been doing (or not). Don't put it off too long, but you don't actually need to be in a huge hurry to get the filings done. At this point, there is no cut-off date for the streamlined compliance procedure. 
Cheers,
Bev


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## BBCWatcher

I wouldn't put it off past this year's upcoming cycle, i.e. with tax year 2014 as your current filing (arriving at the IRS by June 15 with your overseas residence statement, or you file for an automatic extension) and the three/six previous years being 2013 and prior.


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## dtintheeu

*Self employed! Need to file back taxes*



FFMralph said:


> Germany has signed the FACT agreement with the U.S. and your bank is just meeting these requirements. Your bank has identified you as being a possible American citizen. If you do not sign it, your bank will end your contract with them. If you make a false statement, you are in violation of German banking law. *So sign it and file your last 3 yrs. tax returns as soon as possible.* I can help if you need help. Just contact me thru a private message.


Hello FFMralph and others,

Due to too much work and a little bit of vacation I am writing a delayed thank you for the information about the FATCA!

Now I'm planning to catch up on my taxes and I have read so much, but since I am self employed, I have not found the "real" facts I am looking for.

I know that I need to send in the last three years of 1040's, file FBAR (6 years), but can someone tell me as a self employed person living abroad, what other forms need to be filed? Does the IRS expect an Earned Income Exclusion and/or Foreign Tax Credit per 1040 (2014, 2013, 2012) or just one? 

For the sake of simplicity here are my questions:
1) What forms should I file for the last three years? (as a self employed person!)
2) Should I file the Earned Income Exclusion and/or the Foreign Tax Credit? (earned income under $98,000)
3) Is this considered a "streamline procedure"? If so, are there other forms needed?
4) Is this even realistic to do without a tax adviser!?

One becomes quickly overwelmed by this subject and I very much appreciate this forum!

Have a great day, here the sun is shinning!


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## FFMralph

If your earned income was under the current limit for each of years I would just do the FEIE. What other forms you need are dependent on other factors i.e. bank accounts, interest and/or incomes. Best is just to start with TaxAct and follow the dialoges. They will get you pointed in the right direction. A tax advisor probably isn't needed.


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## DavidMcKeegan

Things actually are a bit more complicated when you are self employed and filing only the FEIE is likely not the best alternative for you. As the FEIE does not exclude you from paying self employment taxes on your income, using only the FEIE will likely result in a tax bill to the US.

Generally your best option (and an accountant can confirm this once they have reviewed your specifics) would be to use a foreign tax credit and then include a certificate of coverage with your return. Fortunately Germany has a totalization agreement in place with the US, and this agreement will keep you from paying SE taxes twice. Simply obtain a certificate of coverage from Germany that states you have already paid into their Social Security equivalent, and it will keep you from having to pay again into the US system.

Even though you are self employed, your application will still be considered Streamlined. However as we are in a new filing season, you may have to file three years of late returns (2011-2013), and then include the current 2014 filing on top of that. Also if you have more than 10K in foreign accounts, make sure you are filing your FBAR's. The Streamlined package requests the last six years of FBAR's.

As to be expected, I would always recommend working with a qualified expat accountant, however if you are tax savvy, you may be ok to file on your own.

Good luck!


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