U.S. Citizens in Canada InfoShop

2011 June 24 – McKenna

Barrie McKenna
Privacy Commissioner eyes the long arm of U.S. tax law
Globe and Mail (24 June 2011) B1

No link available.

Canadian federal Privacy Commissioner Jennifer Stoddart “is monitoring moves by U.S. tax authorities to
force all foreign financial institutions to identify Americans.” FATCA seeks to have Social Security numbers and financial account balances reported to the IRS. “Under Canadian law, customers are only required to provide identification that shows where they live – not their immigration status or citizenship.” The article concludes with news that the U.S. is “open to the idea of exempting certain registered accounts, such as RRSPs and corporate pensions.”

Written by usxcanada

24 June 2011 at 6:00 am