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A comment on Why expat Americans are giving up their passports. Parent comment

Re:Why expat Americans are giving up their passports by toddh on Wednesday February 10, 2016 @05:03PM (#11076440)
The FBAR requirement is not new. It's been around for decades. FBAR is part of the Bank Secrecy Act form 1970. The problem is the $10K threshold is not indexed for inflation.

The reason the fines are so high is to catch criminals & tax evaders.

If you have a couple of hundred in the bank you don't have a filing requirement anyway.

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