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Forum: USA

Mar 3rd 2015, 4:00 pm

Replies: 38

FATCA and UK banks

Views: 8,697

Posted By durham_lad

Re: FATCA and UK banks

I would report the gross interest on my US return. Reporting the net and applying the UK tax as a rebate (foreign tax credit) sounds like way too much effort.

Forum: USA

Mar 3rd 2015, 2:36 pm

Replies: 38

FATCA and UK banks

Views: 8,697

Posted By durham_lad

Re: FATCA and UK banks

I shouldn't worry about it, as noted above you have informed them, plus you'll be reporting the account through FBAR, and be sure to report the interest on that account when you file your US taxes. ...

Forum: USA

Feb 27th 2015, 6:56 pm

Replies: 38

FATCA and UK banks

Views: 8,697

Posted By durham_lad

Re: FATCA and UK banks

Correct.

Forum: USA

Feb 27th 2015, 2:08 am

Replies: 38

FATCA and UK banks

Views: 8,697

Posted By durham_lad

Re: FATCA and UK banks

Correct.

Forum: USA

Feb 27th 2015, 1:19 am

Replies: 38

FATCA and UK banks

Views: 8,697

Posted By durham_lad

Re: FATCA and UK banks

I don't believe a regular credit card is reportable as it is only a line of credit, but if you load up a pre-paid card then that is real money that you have control over, then yes it would subject to...

Forum: USA

Feb 9th 2015, 9:37 pm

Replies: 38

FATCA and UK banks

Views: 8,697

Posted By durham_lad

Re: FATCA and UK banks

That reminds me that our HSBC Debit cards are due to expire end of the month, so I hope they will arrive soon. Some years ago we only got a letter with instructions to go to our branch and pick them...

Forum: USA

Feb 6th 2015, 12:13 am

Replies: 38

FATCA and UK banks

Views: 8,697

Posted By durham_lad

Re: FATCA and UK banks

I also have an HSBC account in the UK and they have my US address and pay my interest gross (no tax withheld). I do have to file FBAR most years but not 8938.

They haven't asked me to send in a...

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