Comments on: Costa Rica must share financial info on US citizens beginning July 1st

By: Jason

Jason — Thu, 31 Dec 2015 15:57:00 +0000

How about this scenario. A person is a US Citizen, but owns property in CR and therefore was able to obtain a CR bank account. The bank issues a visa debit card which can be used in the US in order to keep the bank account balance below $10K. Does this need to be reported?

By: Daryl Smitts

Daryl Smitts — Mon, 21 Jul 2014 12:56:00 +0000

true dat… Got that covered here in CR.

By: turbooperator

turbooperator — Fri, 13 Jun 2014 19:53:00 +0000

imagínate voz, pura vida mae, tranquilo

By: Chris Thomas

Chris Thomas — Fri, 13 Jun 2014 02:24:00 +0000

Dude you got some serious personal issues you embrace something you do not know about and a culture which is not your own, who knows what your really are running from maybe some daddy or mommy issues but you are way over your head on this one.

By: turbooperator

turbooperator — Thu, 12 Jun 2014 23:08:00 +0000

Oh wise and plenty traveled one, please enlighten us “outlaws” where the “cream of the crop” live, if not Costa Rica

By: Arne Reisvaag.

Arne Reisvaag. — Thu, 12 Jun 2014 22:09:00 +0000

The FBAR form is a treasury form not an IRS form.

By: Arne Reisvaag.

Arne Reisvaag. — Thu, 12 Jun 2014 22:08:00 +0000

Wrong, any foreign transaction between a U.S. Bank and foreign bank the 30% is withheld if the foreign bank is not in compliance with FATCA.

By: Arne Reisvaag.

Arne Reisvaag. — Thu, 12 Jun 2014 22:04:00 +0000

Don’t worry Ken I think it’s $50,000.00 or more.Everyone is getting excited over something most of us don’t have to worry about.

http://www.irs.gov/Businesses/Corporations/FATCA-Information-for-Individuals

By: Arne Reisvaag.

Arne Reisvaag. — Thu, 12 Jun 2014 20:50:00 +0000

Before you renounce, and yes it is “Renounce” your American citizenship you better make sure you are a citizen of another country otherwise you will be known as stateless.

By: A Dull Roar

A Dull Roar — Thu, 12 Jun 2014 13:45:00 +0000

Good grief! Bad law, but not that bad for individuals. Instead of consulting such “in-depth” articles, one should educate themselves on the ins and outs of the actual requirements. For instance, many people are erroneously concluding that the IRS wants to see how much gas you bought for your car on Wednesday. Not so many banks are locking out U.S. account holders either, that’s myth. Most of FACTA does not apply to the average expat at all. And the ones who get the most upset are the ones who are actually hiding assets to avoid taxes.