More Info On The Fatca Confidentiality Requirements

[Old55]

In 1998 the DAR driver and and an accountant were murdered in heavy traffic downtown Cebu City after departing a bank with payroll. It was made possible by inside information from the bank. I was engaged to my wife at the time and requested she no longer do the payroll runs as she was the senior accountant. She would have been the one killed.

How many times do we read of robberies of those who depart local banks with large amounts of cash?

If you think there is confidentiality in Philippines banks good luck with that.

[MikeB]

How many times do we read of robberies of those who depart local banks with large amounts of cash? If you think there is confidentiality in Philippines banks good luck with that.

Then you should have no trouble signing the Agreement to Consent form. We're talking about 2 completely different things. The US and the BIR want the law repealed or amended because they cannot legally access bank account information to pursue and prosecute illegal activity. Robbing a bank and taking lawful action against an account owner based upon legally obtained bank information are slightly different things.  

[OnMyWay]

I just noticed that our friends at the IRS have a new tool you can use to find out which banks have registered for FATCA.  BPI seems to be there.

 

http://apps.irs.gov/app/fatcaFfiList/flu.jsf