I just checked the American Citizens Abroad (ACA) site, and didn't see anything about this, and they're usually pretty up to date. I don't doubt that it's going to get more difficult for us here, but I think Slaphead has made a good suggestion -- one I will certainly heed.
In any event, these kinds of stories NEED to be told, and there are a number of conduits through which to do so. ACA had this announcement on its Facebook page:
"Two journalists, Sanat Vallikappen ([email protected]) from Bloomberg and Josh Spero ([email protected]) from Spears Wealth Management Magazine are preparing articles on issues affecting Americans living and working overseas. They are looking to speak to Americans on these issues. If you would like to know more about their upcoming articles and potentially contribute please contact them at the emails listed above."
I'd suggest every US expat having problems with banking and other issues get in touch with these journalists and tell their stories. The issues affecting us need to be publicized as much as possible.
Verbier, thanks for catching the typo and posting the correct address of the Isaac Brock Society.
- This website seems to be filling a need for US citizens abroad. Since it moved from its old .com to its new .ca address on 5 June 2012, there have already been 81,000 hits, as of this morning.
Here's a link to a humourous story in the Vancouver Sun called "The Accidental Kenyan: What if African tax policy copied U.S.'s?"
I have had my child allowance discussed in full with me at the AHV and if you are an American you don't get it. Period. I should get it, they thought so at UNIA and the RAV. They told me to go back to my previous employers and collect on it. The previous employers provided all the documentation necessary, and then the GastroSocial plan and AHV told me that they were sorry I didn't qualify because I was an American, it would also not go Australians and I think Canadians as well.
I am not spreading dis information when my bank, they I have had a wonderfully helpful relationship for almost 5 years, tells me I am going to have to get myelf prepared because I will be expelled soon, and that they will send it in writing because of a change in Swiss banking law that applies to Americans. Foreigners with Swiss bank accounts, also not living in Switzerland will have their accounts closed as well, but this is not what I was talking about. I was talking about Americans. And I find it terrible that people are calling me a liar, then groaning me for it, because of true experience that has happened to me. I never come on here before and told lies, I guess this is the best time to start.
I take it that your kids are not living in Switzerland. Then (for american citizens) the (mutual) agreement on social security between Switzerland and the US applies, which effectively excludes the "exportation" of child allowances. You are right.
All we are saying is that the law that changed was not Swiss, but rather American.
This is aggrevating, yes! And I understand you have to let off steam, but please don't discriminate against others by comparing yourself to a Somali citizen! You don't know what they have to go through or any other non-Swiss for that matter. Thanks!
I pay into a benefits program from my salary that everyone, almost, gets to draw from every month for a child allowance, in my case it would be 250 CHF, but because I hold a US passport, and not, say a Somali one, I can't get the money for my kids. But the Somali can. He and I pay the same taxes, but I am discriminated against, making my life that much more expensive here. I am amused by people's arrogance.[/QUOTE]
My guess is that your children were living in Switzerland (when you only had the US citizenship). As a dual citizen, you would get the same amount as any other Swiss.
Confloozed, I understand your discouragement but it is not the fault of the Swiss. If you have another citizenship you may want to go this route . US citizenship is becoming a pain for those living outside the country. Basically what the US has done is "throw its citizens under the bus." They are not thinking about the consequences of what they are doing, they are only thinking about what they can get. Life is never one-sided but US politics has lost all reasoning on many levels....try to relax and consider alternatives if you have any.
So I can't use the fact that Somali's can claim this benefit, when I cannot? Should I seek out a whiter nation to use as an example. Sorry, but America is 50.1% shades of color more then white now. So perhaps I can qualify using Somalia, that factually does mean they can take the child allowance and I can't.
Did I just discriminate because I said one nation of people could take the child allowance, while another cannot? Damn, being termed a racist has grown far past it's actual meaning. In that case I apologize, and I also apologize to the herbavores as well. I am sure their feelings were hurt as well when I said Nation X as opposed to Nation Q got certain benefits over others. Really.
I moved over here in August at the same time as a colleague from China. He had no problem opening a bank account. When I went to the UBS, Credit Suisse, the Kantonsbank, they said that they would not open an account under any circumstances. They said that US government rules were too costly to deal with.
I asked them to take a second look at my passport. It does not have an eagle on it. It might be blue, but it is Canada. No luck. When my carte de legitimation came in Post Finance opened an account for me. Based upon that account I was able to open a rental security account, but nothing more at UBS.
It would appear that Swiss bank managers, like many Swiss are geographically challenged when it comes to understanding that Canada is not part of the US.
After 10 months here, I have learned that in these matters there is no point in fighting the system. I will just apply for Italian citizenship.
unfortunately, the paperwork and manpower required by the Swiss banks to comply with FACTA costs money. The banks aren't going to graciously accept those extra costs, that wouldn't make very good business sense. I will be interested to see if Raiffeisen kicks me out or not. I should ask them, but I am afraid
good luck with your italian citizenship... that is a difficult road. I spent almost two years working on it and finally threw in the towel. maybe it is different coming from Canada, but from the US you need to have an Apostle for every document which I believe can expire (I forget to be honest, I have not looked at it for 5 or more years).... and every document is birth/marriage/death for your parents and hopefully, you are eligible through your mother, not your father.
Jein. PostFinance, at least, is closing acounts for US citizens who are not resident in Switzerland. Other banks are just closing all accounts related in any way to American persons (i.e. American citizens, dual citizens, greencard holders, husband to an American citizen, etc.).
From the article:
The background of this development is a new US law that takes effect next year: the Washington government wants to reduce tax evasion by US citizens through the new FATCA (Foreign Account Tax Compliance Act) law.
There are a couple threads about FATCA in the finance section of this forum, lots of good information there.
thanks for the info... I called UBS and they told me on the phone I was fine and not to worry... of course, when someone says this... worrying is the last thing one would do, right?!?!?
We're with UBS and aside from having to fill in and sign a paper saying we give them permission to release our banking info to the US we haven't had any difficulty. We've got nothing to hide--the US can dig through our finances to their heart's content