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Taxation: USA

Question for Treasury

UIN 200664, tabled on 10 December 2018

To ask the Chancellor of the Exchequer, what discussions he has had with his counterpart in the US Department of the Treasury on creation of accidental Americans through the US Foreign Account Tax Compliance Act.

Answered on

18 December 2018

The government has engaged with the US Treasury and the IRS on a number of occasions regarding the US Foreign Account Tax Compliance Act (FATCA). The government recognises that FATCA is a particular concern for those who were unaware of the obligations associated with their US citizenship.

However, to clarify, FATCA does not create new accidental Americans. Rather, FATCA created a mechanism for the financial accounts of overseas US citizens to be reported to the US.

Answered by

Treasury