Monthly Archives: November 2012

How #FATCA affects US citizens abroad

One of the better information sessions I have seen on how  FATCA, FBAR and PFICS affect U.S. citizens abroad. You will learn why you are NOT in compliance with U.S. laws. This include a discussion of non-U.S. pension plans. The problem is that these are not recognized by the U.S. as pension plans. Incredibly some of these pension funds are PFICs. Here is particularly horrid example of how what I would call “PFIC Abuse