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American/Italian opening a bank account in France


Evianers
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My pen-friend, born in the USA but now [after an incredibly long and painful journey] an Italian citizens via her grandparents, wants to come and live in Europe, probably France but maybe the northen part of Italy. Question is, can she open a bank account in France/Italy without being penalised as an American-born citizen? Tricky, but not insurmountable problem.

Thank you in advance for all knowledgeable answers.

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Special reporting rules to the US authorities are required, if you are a US citizen. Some banks will resist doing it, so I am led to believe, but if they have any presence at all in the US they have to (or have assets seized). Simple solution - they will not take you on as a customer.

I cannot give any first or even second hand examples, but one key question now on the banking disclosure forms that we are required to submit is "Are you a US citizen?"
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Yes BinB is probably correct.

Ask the question on....

http://www.expatforum.com/expats/france-expat-forum-expats-living-france/

It is moderated by a loverly American lady who knows everything about France and all the bureaucracy that goes with it.

There are also lots of other Americans/International expats who I am sure will give their advice.

PS...I would ask the question but I don't really understand the question itself.
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[quote user="alittlebitfrench"]Yes BinB is probably correct. .............  [/quote]

Do you mean when he said

"She will have no problem? Why should she wherever she was born?"

or when he said

"The difficulty will be finding a French bank that is prepared to deal with the IRS."
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I was presuming that having gone to great lengths to get Italian citizenship she was cutting her ties with the USA. In that case where she was born didn’t matter, as an EU citizen where she was born would be irrelevant. However, if she retains US nationality that keeps the IRS in the picture.

What I’m saying is I was right both times but it depends on the context.

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Renouncing your US citizenship is easy enough to do but there are a couple of "catches".

"E. TAX & MILITARY OBLIGATIONS /NO ESCAPE FROM PROSECUTION

Persons who wish to renounce U.S. citizenship should be aware of the fact that renunciation of U.S. citizenship may have no effect on their U.S. tax or military service obligations (contact the Internal Revenue Service or U.S. Selective Service for more information). In addition, the act of renouncing U.S. citizenship does not allow persons to avoid possible prosecution for crimes which they may have committed in the United States, or escape the repayment of financial obligations, including child support payments, previously incurred in the United States or incurred as United States citizens abroad."

You can't revoke your "minor" children's citizenship either.

https://travel.state.gov/content/travel/en/legal/travel-legal-considerations/us-citizenship/Renunciation-US-Nationality-Abroad.html

A guy I work with has just completed his German citizenship and has done this. You have to go to the American Embassy and it takes about an hour. They really tried to put him off doing it.
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