# CBC story concerning FATCA reporting of low-value accounts



## Nononymous (Jul 12, 2011)

Of particular interest to Canadians.



https://www.cbc.ca/news/politics/tax-fatca-canada-u-s-1.5957194



I wouldn't be surprised if this was common in other countries as well.


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## Moulard (Feb 3, 2017)

Definitely common in other countries...









A glimpse into FATCA reporting….


In the post-FATCA world, Australia’s reporting financial institutions (RFIs) are required to report financial account data on Australian resident US citizens that is ultimately transmitted to the I…




fixthetaxtreaty.org


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## Bevdeforges (Nov 16, 2007)

To be honest about it, it's far easier for the banks (or the national bank, if they are compiling the information to send to the US) to just strip off all accounts flagged as having "US indicia" to send to the IRS to keep them happy. (And let them have to sort out which accounts they are interested in.)


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