Should I close one or more of my foreign bank accounts because of FATCA?

As far as FATCA reporting is concerned: No, there is no justifiable reason for you to close any of your foreign financial accounts.

Arbitrarily closing one or more of your foreign bank accounts may only serve to flag you with the IRS as a U.S. expat taxpayer trying to avoid detection.  

If you haven’t paid taxes on one or more foreign bank accounts, speak with us about becoming compliant.

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