The Netherlands answers questions regarding FATCA

On 15 October 2019, the Dutch Secretary of State answered questions in relation to the Foreign Account Tax Compliance Act (“FATCA”) and US Persons that do not have a Tax Information Number (“TIN”). In short, the Secretary of State refers to the simplified IRS procedure to renounce citizenship. The simplified procedure should enable US citizens who are resident in the Netherlands and that do not have a TIN, to obtain a certificate of loss of nationality in order to avoid issues with opening and maintaining bank accounts (Link-Dutch). 

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