We talked to a series of Canadians with some form of U.S. citizenship – by birth or by parentage – who are wondering whether to get rid of it, or already have.
Most of the people we interviewed about their loss of U.S. citizenship, or plans to lose it, asked not to be identified by their full names. Their reasons were: not wanting to be flagged at the border; not wanting a Canadian bank to flag their accounts; abusive calls the last time they were quoted in the media; and “wanting to keep my real and normal life separate from my activity on this matter, so my family and I can move on from it.”
- How does FATCA affect me?
- How do I stop my bank from giving my personal info to the IRS?
- How do I get rid of my U.S. citizenship?
- How does all this play out in real life?
Is a second citizenship in the United States an asset? It depends.
Many Canadians have built careers in the U.S. that were simplified by the accident of their birthplace, or of a parent’s. If you want to work in the U.S., it’s useful to not have to worry about visas and green cards. (“Home is the place where, when you go there, they have to let you in,” wrote New England poet Robert Frost.)
But it became a potential liability in February when Canada made a deal with the U.S. on the Foreign Account Tax Compliance Act, or FATCA.
That obliges Canadian banks to look for “U.S. indicia,” such as a U.S. birthplace…
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