Dutch finance minister confirms banks don't need American clients' TINs for now, but questions remain

Dutch finance minister Johannes "Hans" Vijlbrief has responded to more than 20 questions posed to him by three Dutch lawmakers last month, on behalf of so-called "accidental Americans" resident in the Netherlands who have been struggling to maintain their Dutch bank accounts, by insisting that it would be "premature for banks to close, block or freeze" the bank accounts of such dual Dutch/American clients now, just because these clients had failed to provide these Dutch banks with a U.S. "Tax Information Number (typically a Social Security number). 

  • News

Frozen bank accounts latest: Dutch MPs submit questions on 'accidental American' issues to Treasury officials

Dutch Parliamentarians have submitted a list of some 25 questions on the subject of "banks that, in response to the U.S. FATCA legislation, are refusing to provide services to Dutch nationals who also have American citizenship" to the country's treasury minister and deputy treasury minister, in the latest development in a long-running issue about how non-U.S. financial institutions should handle the accounts of those of their 'accidental American' clients who lack so-called tax information numbers (TINs). 

  • Tax

U.S. Treasury remains silent as bank accounts of EU 'accidental Americans' still being frozen

The U.S. Treasury is continuing to maintain its silence with respect to the issues European banks have been struggling with for months over their perceived need to report to the U.S. – under the tax evasion law known as FATCA – government tax information details on certain of their American account-holders that they don't have, European banking sources, expat groups and others report...

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Accidental Americans call for urgent action in meeting with Dutch lawmakers over frozen bank accounts

Representatives from two American expat organizations that met yesterday with around half a dozen members of the Dutch House of Representatives in the Hague said they believed that their urgent call for government action to deal with the problems of thousands of  bank accounts belonging to "accidental Americans" being closed was at least acknowledged, and the groundwork laid for further discussions. 

  • News

Uproar as some Dutch banks begin freezing accounts of Americans lacking TINs

"Dozens" of customers of Dutch banks have come forward to report that their bank accounts in the country have been frozen, and banking services otherwise being denied to them, because they are considered to be American and yet have failed to provide the banks with their U.S. "tax information numbers" (TINs), according to reports out of the Netherlands.

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Opinion

Karen Alpert: Unforeseen consequences expected as 'Recovery Rebate' is distributed to expats

Karen Alpert: Unforeseen consequences expected as 'Recovery Rebate' is distributed to expats

There has already been much speculation by media organizations, American expat groups and cross-border U.S. tax specialists about how the US$2trn federal stimulus package known as the CARES Act, signed...

Apr-01-2020