IRS now making people in Aus bend over backwards to fill out forms

[CIYAM]

Just got a message from my ING Direct account informing me that I need to fill out a form (presumably in actual paper) to state my US tax status.

Why? I'm not a US citizen (nor have even visited the country) so I guess it is simply because this is what the US government has decided - that every Australian (and I'd guess many other countries also) interest earning bank account holder now needs to do.

Personally I think every US interest earning bank account holder should have to fill out forms to say they are not a taxable entity for every single other country they have forced into to doing this shit to.

[pungopete468]

While I think it's absolutely ridiculous that the US is reaching out so far beyond it's authority, it's even more baffling how this is allowed by foreign governments... When your governments fail to assert national sovereignty, they cede it...

It's a runaway train with the US as the locomotive, and far too few of the other sovereign nations are even attempting to hit the brakes...

[Nemo1024]

Is it a W-8BEN, perchance? Had to put up with it for a few years as a stock photo contributor with a minuscule income coming from it, but I was filling it out electronically and only the very basics, as Norway and US have a mutual tax agreement.

EDIT: Read your OP closer. What?! a US form for your domestic bank account?!

[TECSHARE]

Google FATCA

[pattu1]

Google FATCA

Isn't it supposed to be applicable only to US citizens / residents?

[Whtwabbit]

Google FATCA

Isn't it supposed to be applicable only to US citizens / residents?

Australia is a corporation registered in the USA, so I guess Australian citizens are citizens of the USA aswell

http://loveforlife.com.au/content/09/09/20/commonwealth-australia-corporation

[Foxpup]

Google FATCA

Isn't it supposed to be applicable only to US citizens / residents?

No, it's applicable only to financial institutions that do business with US citizens/residents. Which means said institutions now have to ask every single customer whether they are one.

Australia is a corporation registered in the USA, so I guess Australian citizens are citizens of the USA aswell

http://loveforlife.com.au/content/09/09/20/commonwealth-australia-corporation

It's also a corporation registered in Australia, mainly so that contractors who do business with the government will have a legal entity to put on the contract. The conspiracy theory you linked to is both crazy and nonsensical.