British citizens born in US risk having UK bank accounts frozen
Many British citizens born in the US but who left when only a few months or years old have a risk that their bank accounts in Britain can be frozen because of intense pressure by US tax authorities on UK banks.
British banks are afraid of fines from US regulators if they continue to serve US citizens but fail to share information with the IRS.
But this leaves thousands of ‘accidental Americans’ born in the US but left as toddlers, in a near-impossible situation.
The pensioner in Cambridge said accidental Americans like herself should not be the target of Fatca trawls of foreign bank accounts.
According to the European Banking Federation, there are nearly 300,000 accidental Americans in the EU.
Original Story at the Guardian.