Exploring Issues of US Citizenship–Info Session

The United States has signed IGA's (Intergovernmental Agreements) in many European countries including the UK, France, Germany, Switzerland and many others. These IGA's will allow governments to implement FATCA (Foreign Account Tax Compliance Act). Financial institutions across the globe will be required to identify accounts of "US Persons." Starting July, 2014, financial institutions will begin to determine what accounts are "reportable accounts." Information regarding those accounts will be passed on to the tax agencies of each country, who will in turn, pass this information on to the IRS. This situation is causing confusion and concern for anyone who may have a US connection, whether it be actual citizenship, a member of the family, etc. This information session will focus on these issues which include:

Citizenship Issues:

• Are you a U.S. citizen?

• Are your children U.S. citizens?

-What is an Accidental American?

Tax Issues

• Filing U.S. tax returns – what is involved?

• Filing information returns (FBAR, Form 3520, 5471, etc.)

• Reasonable cause (avoiding penalties)

Financial Planning Issues

-treatment of tax-deferred savings plans

-treatment of Mutual Funds (PFICs)

Privacy Issues

-What might FATCA mean for me?

Border Issues

-Will FATCA make it harder for me to cross the border?

Does it make sense to give up U.S. citizenship? - Renouncing or relinquishing

Presenter: John Richardson, LL.B., J.D

John Richardson is a Toronto lawyer and a member of the Ontario Bar. He is also a member of the American Citizens Abroad (ACA) Professional Tax Advisory Council (PTAC). Information presented is not intended or offered as legal or accounting advice specific to your situation.

Admission: £15 (to cover costs)

Transport: The nearest train station is Euston. The location is also
within short walking distance of King’s Cross/St. Pancras train station.
The nearest Tube stations are Euston (Northern and Victoria), Euston
Square (Hammersmith & City, Metropolitan and Circle) and King’s
Cross/St. Pancras (Piccadilly).