DTLVbrit

I hear you - I was basically just making sure they had all the correct info to avoid any headaches later and this was just on my list of things tax related to sort out before the end of the year as my taxes are more complex this time around.

I will be closing this account in the next week anyway so it shouldn't really matter. I absolutely appreciate the advice though. I guess after going through immigration, I am used to having this sort of stuff being an open book to avoid any problems

Hotscot

You may like to keep the account open. It can be handy to have access to local funds when you go back.

theOAP

Perhaps someone might wish to maintain the account with HSBC in the UK, in which case they should be aware of Section 2 - General, of the HSBC Terms and Conditions. Failure to comply with 35.4 (Your responsibilities)

"You must tell us in writing about any changes to Customer Information provided to any member of the HSBC Group within 30 days of the change."

may result in 35.6 (What happens if you don't meet your responsibilities) applying:

"then we may: block or close your account(s)."

DTLVbrit

Well, it wasn't in writing, but over the phone and updating my profile on my online account. I'm sure it's fine either way

And I will think about keeping it open - having access to it while in the UK can be handy - but I'd rather close those ties

JAJ

The bank's reporting costs under FATCA are largely fixed, and have already been incurred. It is highly unlikely that closing U.S. linked accounts will affect either at this stage. It was never likely that full service banks could realistically withdraw from U.S. linked business. And if they wanted to do so, they needed to do so before the reporting obligation came into effect in 2014.

FATCA compliance is just one of the many costs of doing business as a bank.