April 21, 2024

Taylor Daily Press

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De Voxbank is not allowed to 'accidentally' close American accounts

De Voxbank is not allowed to ‘accidentally’ close American accounts

De Voxbank was not allowed to close the bank accounts of the so-called ‘American by accident’. That is what the District Court of the Central Netherlands is all about Decided on Wednesday. A year ago The court is still deciding The bank was allowed to close the person’s accounts.

At that time De Volksbank canceled the person’s accounts because he did not want to give the bank some information and did tax evasion in the United States. The decision is now different, as the court found that the person had not been proven to be evading his U.S. tax liability. Moreover, according to the judge, he was not obliged to provide the information requested by the financial institution.

An ‘unintentional American’ is a Dutch citizen who is considered American by the United States because he or she was born in the United States or because one of his or her parents is American. Anyone who is a U.S. citizen, even if the person does not live in the United States, must file a tax return in that country. Sometimes it means that someone is paying double taxes.

The Netherlands and the United States have a tax treaty for accounts less than 50,000 euros. The accounts of the person in question came under this arrangement.

Also read: Your cradle can no longer be pinned because it was in the United States

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