I’m increasingly concerned about how FATCA is affecting people on a personal level. I’ve again written to Jim Flaherty to try to appeal to him to act now because of the toll this is taking on Canadian citizens and residents.
Here’s my e-mail Subject: FATCA: Canadians Are Desperate. We Need Your Help Now!
Do you realize Canadian citizens and residents (who the US is trying to claim as “US persons”) are anxious, distraught and desperate about planned FATCA intrusion into their private financial affairs and lives in Canada?
My own personal experiences, conversations with others and social networking have shown me FATCA is seriously affecting finances, health, jobs, careers, marriages, family and personal relationships, businesses, and voluntarism of Canadians in Canada.
I very much appreciate your response to my letters to you and the fact you are “actively seeking a solution that both countries will find acceptable.” In the meantime, Canadians of American origin are living this nightmare and need this resolved now..
I am contacting you on this more personal level because I am aware of two senior women who have recently reported suicidal thoughts due to IRS expectations. I suspect they are not alone.
Many others are reporting sleepless nights, strained marriages, panic attacks, health challenges, worry about Canadian born children and difficulties at work or finding employment. . .
I realize you may be making attempts through diplomatic channels to address this issue. I also am aware you have said publicly that CRA will not collect any penalty owing by a Canadian citizen or resident for failure to file an FBAR. You have also said CRA will not collect any tax liability for the IRS on a Canadian citizen if that person was Canadian at the time of the liability.
But, US attempts to bully Canadian financial institutions into reporting on savings and investments of “US persons” is causing phenomenal stress on myriad of Canadians who had the misfortune to be born in the US or to be born in Canada to a parent born in US.
Many of us were told decades ago that we were renouncing US citizenship by becoming Canadian. I was personally told that four decades ago. Another woman was told that six decades ago.
Your efforts are respected and appreciated by Canadians of American origin or ancestry.
However, we need you to clearly, firmly and publicly tell both Canadian financial institutions and the US government that Canadian citizens and residents of US origin or ancestry have the same legal rights to privacy in financial matters as all other Canadians. We need you to further strongly advise financial institutions they cannot violate Canadian law to satisfy the demands of a foreign government.
And, we need you to tell Canadians of American origin that Canadian government will not allow Canadian financial institutions to violate their rights to manage their financial affairs and investments in privacy and with confidence.
Finally, we need your assurance Canadian law will not be changed to accommodate the demands of a foreign government.
Our Canadian citizenship certificates say we are “entitled to all the rights and privileges and (are) subject to all the responsibilities, obligations and duties of a Canadian citizen.”
Most of us have worked, earned a living, saved, invested, raised families, owned homes, volunteered, contributed, been active in our communities, voted and paid taxes in Canada—many for decades.
I hope you will immediately see the urgency of this situation and make a public statement to ensure our rights as Canadians are protected and enforced. .
The Americans are instilling terror in their former and present citizens living in Canada and around the world. In this way, they are no different than Eritrea, which was sanctioned at the UN–including by the United States.
We need you to tell the Americans: “Canada does not negotiate with financial terrorists”
Mr. Flaherty, Please Act Now!