UK-based wealth platform Nutmeg reported closing doors to American clients, in wake of JP Morgan buyout news

Less than two months after New York-based banking giant JP Morgan Chase announced that it was to buy what claims to be the UK's "first and now largest" digital wealth manager, that wealth manager – Nutmeg Saving & Investment Ltd – is telling its American clients that they must leave, a Mail on Sunday story is reporting.

According to the MoS, Nutmeg "withdrew its services to 'U.S. tax residents' via an email" last month, "warning them it was closing their accounts". 

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State Dept. responds to 'Accidentals' complaint over renunciation fees, citing 'costs'

The U.S. State Department has responded to a complaint over the recently-increased fee for renouncing one's American citizenship, which was filed last December by a coalition of so-called 'accidental Americans', by noting that it had increased the fee to reflect a rise in the government's renunciation processing costs, according to court documents seen by the American Expat Financial News Journal. 

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March 18, 2021: FATCA turns 11

Eleven years ago today, in the Rose Garden of the White House, President Obama signed the Foreign Account Tax Compliance Act into law – buried inside a domestic jobs bill known as the HIRE Act.

There's not much to say about FATCA that we and others didn't last year, when we marked the anti-tax evasion law's 10-year anniversary, as not a lot has changed about it since then.

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U.S. agrees to discuss FATCA-related issues with EU

In what some campaigners for fairer treatment of EU/American dual nationals, particularly 'accidental Americans,' today hailed as a significant development, U.S. Treasury officials are reported to have agreed to meet with their EU counterparts to discuss FATCA-related issues, including those that these dual nationals are struggling with. 

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Europe's 'accidentals' hoping for results, as EU Council plans follow-up meeting next week

Europe's accidental Americans say they're cautiously optimistic that a recently-announced follow-up to last week's ECOFIN discussion on FATCA may at last yield results – at least in the form of an agreement by top EU officials to prioritize the accidentals' concerns, as these officials prepare to meet in coming weeks and months with their counterparts in the new Biden administration. 

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EU 'Accidentals' cheer, as FATCA on ECOFIN agenda next week

In what campaigners for a fairer treatment for Americans and "accidental Americans" affected by the extra-territorial U.S. tax law known as FATCA are hailing as a potentially major development, the EU's Economic and Financial Affairs Council (ECOFIN) is set to discuss the legislation – and its problems for Americans abroad – at a meeting next week. 

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Opinion

You really know you're an American expat when...

You really know you're an American expat when...

Like folks everywhere, Americans are often surprised to discover how different things can be when they live abroad. Sometimes the differences are small; sometimes they're hilarious. In recent years, as...

Nov-25-2021