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FATCA Kenya
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Dawnwoods
#1 Posted : Tuesday, November 03, 2015 1:23:33 AM
Rank: New-farer


Joined: 5/22/2014
Posts: 56
I was told that i have to complete this funny form which was mandatory. Meaning, if i have more than a Mil in any or combined accounts, its then reported to the IRS.. Seriously???? What happened to sovereignty?
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obiero
#2 Posted : Tuesday, November 03, 2015 6:20:06 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,967
Location: nairobi
Dawnwoods wrote:
I was told that i have to complete this funny form which was mandatory. Meaning, if i have more than a Mil in any or combined accounts, its then reported to the IRS.. Seriously???? What happened to sovereignty?

9/11 happened to sovereignity. Nothing to hide, nothing to fear..

KQ ABP 4.48; MTN ABP 5.20
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nakujua
#3 Posted : Friday, November 13, 2015 5:06:11 PM
Rank: Elder


Joined: 12/17/2009
Posts: 3,583
Location: Kenya
obiero wrote:
Dawnwoods wrote:
I was told that i have to complete this funny form which was mandatory. Meaning, if i have more than a Mil in any or combined accounts, its then reported to the IRS.. Seriously???? What happened to sovereignty?

9/11 happened to sovereignity. Nothing to hide, nothing to fear..

I thought it only applies to americans only, ama hata kenyan citizen details are sent to irs.
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MatataMingi
#4 Posted : Saturday, November 14, 2015 9:10:22 AM
Rank: Member


Joined: 11/17/2009
Posts: 399
Location: Where everyone knows you
I believe this requirement only applies if you bank with a multi national bank that has operations in the US.
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Ash Ock
#5 Posted : Saturday, November 14, 2015 11:18:45 AM
Rank: Member


Joined: 8/27/2010
Posts: 495
Location: Nairobi
Quote:
FATCA will have no impact on you if you are not a U.S. person and hence no further action may be required. However, in certain circumstances, the Bank may require your action or confirmation to determine the correct status, for example through submitting declarations as may be required to update your information with us.


Foreign Account Tax Compliance Act Q&A from NIC Bank Kenya.
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