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A comment on Wealthy people are renouncing American citizenship. Parent comment

Re:Wealthy people are renouncing American citizenship by ElFitz on Thursday August 05, 2021 @04:59PM (#28079726)
Because they apparently require foreign banks to report it.

Now, how do they actually enforce that supposed "obligation"? I do not know.

But it doesn’t surprise me. The US has already enforced it’s laws on foreign companies' dealing abroad merely because they had used dollars in their transactions.

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Re:Wealthy people are renouncing American citizenship by abroadsaver on Thursday August 05, 2021 @05:55PM (#28080475)
They haven’t enforced it yet (for the banks, for non-compliant Americans, they have). But they’ve signed treaties with many governments to allow this, and they threaten foreign banks with fines related to any US dealings.
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Re:Wealthy people are renouncing American citizenship by emodendroket on Friday August 06, 2021 @08:56AM (#28086490)
They say you play ball or lose access to the US banking system, which is pretty much a death sentence.
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