Netherlands: FATCA issues encountered by Dutch citizens with U.S. nationality

Netherlands: FATCA issues encountered by Dutch citizens

An official with the Dutch Finance Ministry sent a letter to parliament to answer certain questions about issues and challenges under the FATCA regime encountered by Dutch citizens who have U.S. nationality.

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Some of the challenges addressed in the letter concern:

  • Issues when banks refuse to provide financial services on the basis of the FATCA legislation
  • Issues related to U.S. sanctions versus requirements to keep an account open in accordance with the Dutch current account directive or EU regulations
  • Issues related to a lack of a taxpayer identification number (TIN)
  • Issues regarding frozen or blocked accounts for Dutch nationals with U.S. nationality by various banks
  • Issues when accounts are closed because of a lack of a social security number (SSN) or a TIN
  • Issues when banks threaten to close an account because of noncompliance due to an incomplete form when individuals have not provided their personal U.S. tax status


Read a September 2020 report [PDF 138 KB] prepared by the KPMG member firm in the Netherlands

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