American Belgians risk losing their Belgian bank account in 2020
26/08/2019
As recently communicated in the Belgian media, Belgians with the American nationality risk losing their Belgian bank accounts because of the strict application of the U.S. FATCA-legislation. In application of the FATCA (Foreign Account Tax Compliance Act), which is also applicable in relation to U.S. citizens residing in Belgium, financial institutions outside the U.S. (such as Belgian banks), must provide specific data to the U.S. Tax Authorities (IRS) about the bank accounts of these American nationals
