[lazide]

Not just because of either - many countries tax and treat citizen/permanent resident accounts wildly differently than non-citizen and non permanent resident accounts.

India has a whole swath of different account types based on this criteria, with wildly different rules.

China too.

[fakedang]

NRI accounts are different in that they're localized. You don't have UBS in Switzerland asking me if I'm an Indian citizen or resident, like they do for the US.

[lazide]

Indian banks will absolutely demand the information we’re talking about.

[fakedang]

Sure, as it is in their purview within India. But does UBS or Santander ask their clients in Europe if they're specifically an Indian citizen or resident? Does RBS send a form to a prospective client asking them to explicitly check off if they're a citizen/resident of India or China or wherever?

[lazide]

My point is that the US gov’t asking US banks to verify citizenship/residency of account holders in the US is not that unusual, if looking at the norm internationally. What is your point?

[fakedang]

My point is and always was about US government rules forcing foreign banks in third countries to check for US citizenship and residency specifically. Otherwise citizenship checks have always been a thing everywhere. But in order to comply with the US rules, banks have to maintain a separate documented US FATCA section altogether in their enrollment process, even if they are in some unrelated third country.

[lazide]

Then you’re in the wrong thread?