EU-US Working Group Could Resolve FATCA Issues, Panel Says

The EU should work more closely with the US to resolve problems faced by so-called “accidental Americans” under the US Foreign Account Tax Compliance Act, the European Parliament’s Petitions Committee said Wednesday.

The European Union should negotiate a single agreement with the US on FATCA to replace deals the US has with some EU member countries, and it should push the US to exempt accidental Americans from FATCA, the committee said in adopting the report of a 2022 fact-finding mission to Washington.

Accidental Americans are those who have established overseas and have a passport only by virtue of being born ...