As a practitioner in United States taxation, I am already fielding calls from concerned citizens of the United States residing in New Zealand.
One of the most significant calls I have had is concerning a United States citizen allegedly being denied access to investments, in the words of the financial planner, ‘booted off an investment platform’.
After a frantically busy tax season combined with completing my IRS competency testing, I will be making it my business to research these allegations further.
If you are a United States citizen residing in New Zealand, you are likely to be affected by this legislation.
At the very least, it is highly advisable to educate yourself about FATCA.
Read more about FATCA in my earlier article ‘Are you ready for FATCA?’