2 Responses to TD Bank weighs in on FATCA

  1. CA Freeb says:

    That’s quite an interesting letter. It did not address the situation where the person who earns the money in the account is Canadian but, a U.S. citizen has signing authority over it. The IRS considered an exemption there and rejected the exemption. If it continues like that I would still be having to file FBAR’s and tax returns on my Canadian family.

    • Expat in CA says:

      I mentioned the issue of joint accounts, but yes, you’re quite right. FBAR does not take into account where the money comes from (or even if it’s the same money being transferred around).

      Do you have a source for the IRS considering and rejecting the exception?

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