Americans with Bank Accounts in Mexico Can be Fined El Jefazo - The Fulano Forum
go to original October 30, 2016

Those citizens of the United States who have bank accounts or businesses in Mexican territory and who have not reported them to the United States government, if they are discovered they can be fined more than $10,000 dollars, a situation which is common in the border states.

Finalizing his participation in the weekly breakfast of the Association of Public Accountants, CPA Jorge Pacifico García, said that the Law on Foreign Accounts (Fatca) in the USA, makes all American citizens report their bank accounts to better collect taxes.

"Fatca has been around for many years, but about seven years ago the American government began to tighten the screws and reinforced the law, giving out fines and taxpayers are now looking for solutions and not ignoring it anymore," he said.

See the original at The Fulano Forum

Related: Banking in Mexico Can be a Complex Business (Mexico News Daily)

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