What would happen if Thailands stops allowing US citizens to

[JSixpack]

...

And there you have it! Not much time left! PREPARE FOR DOOMSDAY!!!

...

Funny funny funny.

Ha ha ha.

But you know dude, this is quite a sober and serious matter for many Americans in Thailand.

We are dealing with a lot of uncertainty now about this.

But this topic merely asks for your speculation about an AWE-INSPIRING absurdity, nothing about any uncertainty. "What would happen if Thailand stops allowing US citizens to open bank accounts in Thailand?" And there's only one, inevitable, obvious answer to that question: then US citizens won't open bank accounts in Thailand. Being fallacious and rather silly, the question merely represents another of the shit-stirrin' troll topics for the trolls and the credulous.

As Pib and Suradit69 have pointed out, a number of current serious threads related to the topic of Thai banks and US citizens exist already, and if you got any real news or factual info then you should post them in one of those as appropriate instead of floundering around off topic in the breeze here.

Edited March 28, 2014 by JSixpack

[Jingthing]

I don't consider this a troll topic in the least.

Yes I concede it could have been worded much better, but the issues suggested by the question remain important to American expats, at least the ones that are starting to get a clue that some changes are REALLY happening.

I think you might be taking the OP too literally. To me, it's another thread about an important issue (to Americans only).
The literal answer is obvious, if there were no Thai bank account options for Americans in Thailand (seems unlikely), the Americans that need That bank accounts to exist here would be forced to leave. I think that would include a significant percentage of Americans here.

If some options close up (likely) then those Americans impacted by that will be scrambling to find alternatives, and some will be hurt.

Cheers.

Edited March 28, 2014 by Jingthing

[hhgz]

The OP's post is obviously spam for his company. "Hey, we have a solution for you. You become a company - because companies are people too - and that money can be used for anything."

[JSixpack]

The OP's post is obviously spam for his company. "Hey, we have a solution for you. You become a company - because companies are people too - and that money can be used for anything."

Good call.

[SheungWan]

I don't consider this a troll topic in the least.

Yes I concede it could have been worded much better, but the issues suggested by the question remain important to American expats, at least the ones that are starting to get a clue that some changes are REALLY happening.

I think you might be taking the OP too literally. To me, it's another thread about an important issue (to Americans only).

The literal answer is obvious, if there were no Thai bank account options for Americans in Thailand (seems unlikely), the Americans that need That bank accounts to exist here would be forced to leave. I think that would include a significant percentage of Americans here.

If some options close up (likely) then those Americans impacted by that will be scrambling to find alternatives, and some will be hurt.

Cheers.

Since there is zero evidence to dte of one single American having their accounts closed on account of their passport designation then the speculation lacks worth. Actually the speculation is a result of a lack of understanding of what really is happening which is that the US is increasing pressure on other countries to give them lists of US citizens holding bank accounts in those countries. Switzerland for one is leading a rearguard battle and some banks are refusing US citizens wanting to open new accounts. The actual risk to US citizens who do have Thai bank accounts is not that they will be closed but rather that they will be in trouble with US authorities if they have not declared those accounts prior. If anybody is going to close Thai bank accounts held be US citizens it is not going to be the Thai banks taking the initiative, it is the US citizen account holders.

[OMGImInPattaya]

What happens to your funds when the bank closes your account?

This I wouldn't worry too much about. I wouldn't be so paranoid as to think they would steal the funds. Close would likely mean freeze, and then you go in and get the money somehow. I also don't really think there are going to mass closures at most Thai banks. But something is going to happen, I'm just not clear what yet.

What do you think happens...Thailand isn't some third world kleptocracy, where they confiscate the funds of foreigners while kicking them out the door. This isn't Uganda in the 70's, when there was a complete breakdown of law and order...oh, maybe it is! Seriously, you will just get your money back..."how would you like it sir...bank check or cash?" Really, some of you really need to get over your paranoia with regards to money.

[IMA_FARANG]

The OP says: "Most information we receive just comes from US passport holders who have recently had their accounts closed down or were denied application."

Dear OP, could you advise of the number of US passport holders you've received information from regarding any closures or denials in Thailand? I do trust you've received at least some information about denials or closures to US citizens in Thailand or you certainly wouldn't be saying it will probably happen here now, would you?

I will give you this personal example.

In October 2013 my small regional bank in New England sent all their U.S. depositers a note stating that effective on 25 October 2013 they would no longer allow wire transfers outside the U.S.

The reason for this was "new Federal regulations".

No further information on what these "new Federal regulations" were'or are.

I however, wasn't actually notified of this until I asked for wire transfer of funds to my Bangkok Bank account on 5 December 2013.

It was refused by my then U.S. bank, and that information about wire transfers I mentioned above was then sent to me on the internet.

I had been doing monthly wire transfers since October 2010, when I retired and my Social Security has been sent by direct deposit each month to that bank since I retired.

The last wire transfer they allowed me to do was for December 6th, 2013.

I have contacted that bank since then several times but they insist that wire transfers are no longer allowed.

I have also asked them anout ACH transfers to Bangkok Bank in New York.

Their reply to me was that ACH transfers are only available to customers with BUSINESS accounts, but is NOT available to those with PERSONAL bank accounts.

I am in the process of closing out that bank account now and using another bank which WILL allow recurring direct monthly funds transfers to Thailand.

My monthly Social Security direct deposits have just been switched to my new U.S. bank......I expect my first funds transfer to be somtime in April from my new U.S bank to my bank in Thailand .

That is what happened to me.

[IMA_FARANG]

The OP says: "Most information we receive just comes from US passport holders who have recently had their accounts closed down or were denied application."

Dear OP, could you advise of the number of US passport holders you've received information from regarding any closures or denials in Thailand? I do trust you've received at least some information about denials or closures to US citizens in Thailand or you certainly wouldn't be saying it will probably happen here now, would you?

I will give you this personal example.

In October 2013 my small regional bank in New England sent all their U.S. depositers a note stating that effective on 25 October 2013 they would no longer allow wire transfers outside the U.S.

The reason for this was "new Federal regulations".

No further information on what these "new Federal regulations" were'or are.

I however, wasn't actually notified of this until I asked for wire transfer of funds to my Bangkok Bank account on 5 December 2013.

It was refused by my then U.S. bank, and that information about wire transfers I mentioned above was then sent to me on the internet.

I had been doing monthly wire transfers since October 2010, when I retired and my Social Security has been sent by direct deposit each month to that bank since I retired.

The last wire transfer they allowed me to do was for December 6th, 2013.

I have contacted that bank since then several times but they insist that wire transfers are no longer allowed.

I have also asked them anout ACH transfers to Bangkok Bank in New York.

Their reply to me was that ACH transfers are only available to customers with BUSINESS accounts, but is NOT available to those with PERSONAL bank accounts.

I am in the process of closing out that bank account now and using another bank which WILL allow recurring direct monthly funds transfers to Thailand.

My monthly Social Security direct deposits have just been switched to my new U.S. bank......I expect my first funds transfer to be somtime in April from my new U.S bank to my bank in Thailand .

That is what happened to me.

[JSixpack]

I will give you this personal example.

An example that couldn't possibly be more irrelevant.

In October 2013 my small regional bank in New England sent all their U.S. depositers a note stating that effective on 25 October 2013 they would no longer allow wire transfers outside the U.S.

The reason for this was "new Federal regulations".

No further information on what these "new Federal regulations" were'or are.

Small regional bank. And you didn't bother getting the info on the federal regs that affected this small regional bank. Maybe the bank just lacked expertise understand & apply the regs. Maybe they found it no longer cost effective for some reason. So it may not have been the regs, but the banks reluctance to ramp up a little.

Since you don't know, then you have nothing here really, esp related to the topic. Fed regs are not prohibiting, and never will prohibit, private citizens from transferring money to personal accounts abroad. Period.

My monthly Social Security direct deposits have just been switched to my new U.S. bank......I expect my first funds transfer to be somtime in April from my new U.S bank to my bank in Thailand .

And this last simply shows you don't know what you're doing and are wasting money. SSA will, and should, transfer the payment directly to Bangkok Bank, NY, and from there to your personal direct deposit account at your local Bangkok Bank branch. If the gummit itself is doing such transfers, they would hardly be prohibiting private banks from doing the same--at YOUR expense.

Next.

[davejones23]

The one bank here I would not worry about would be Bangkok Bank because they have a branch in New York.

I think most banks here will agree to the reporting requirement. Thailand is not exactly known as a tax haven like some other countries.

It's got nothing at all to do with tax havens, but has everything to do with reporting. For many banks the costs are prohibitive, so they would rather just not have US customers. I've heard of many banks (in other countries) charging US citizens hundreds of dollars a year to cover their costs. Many just don't want the hassle.

What this is really is the USA imposing capital controls on it's own citizens. They have don't it in a sneaky way though so that they can just blame foreign banks. But it's all about control US citizens wherever they are in the world.The land of the free. What a complete joke.

This will only get worse for US citizens.One day you'll be made to go home and your borders will be shut. USA is just like a failed communist state.

[Jingthing]

The one bank here I would not worry about would be Bangkok Bank because they have a branch in New York.

I think most banks here will agree to the reporting requirement. Thailand is not exactly known as a tax haven like some other countries.

It's got nothing at all to do with tax havens, but has everything to do with reporting. For many banks the costs are prohibitive, so they would rather just not have US customers. I've heard of many banks (in other countries) charging US citizens hundreds of dollars a year to cover their costs. Many just don't want the hassle.

What this is really is the USA imposing capital controls on it's own citizens. They have don't it in a sneaky way though so that they can just blame foreign banks. But it's all about control US citizens wherever they are in the world.The land of the free. What a complete joke.

This will only get worse for US citizens.One day you'll be made to go home and your borders will be shut. USA is just like a failed communist state.

I don't agree with the failed communist state part, but I do agree the trend is to push more of us home whether we like it or not (and obviously if we're not there, we don't want to be now). probably not intentionally but that is going to be the result.

Just as for some banks, it's too much of a hassle to deal with American accounts, for some Americans it's becoming too much of a hassle to deal with the U.S. government's policies towards expats. Most of us aren't going to give up citizenship, so going home is going to be the answer for more of us.

Of course if you've been away a really long time, what is "home" anyway?

Edited March 29, 2014 by Jingthing

[davejones23]

If it came to the point that no Thai bank would accept Americans, then I'm sure some bank would step back in and offer accounts for a fee. e.g. we'll open an account for you for $1,000 a year to cover our reporting costs and make a nice little profit. Some banks might not make any money from these accounts, so they may as well save themselves the hassle and not have them. But if there's money to be made, then someone will step in. Bottom line is that it will start costing Americans more money. Your government doesn't like you. Whether you have done anything wrong or not, they're going to hound you for the rest of your lives. You are modern day slaves. Not free to go anywhere without your masters keeping tabs on you.

[Pib]

If it came to the point that no Thai bank would accept Americans, then I'm sure some bank would step back in and offer accounts for a fee. e.g. we'll open an account for you for $1,000 a year to cover our reporting costs and make a nice little profit. Some banks might not make any money from these accounts, so they may as well save themselves the hassle and not have them. But if there's money to be made, then someone will step in. Bottom line is that it will start costing Americans more money. Your government doesn't like you. Whether you have done anything wrong or not, they're going to hound you for the rest of your lives. You are modern day slaves. Not free to go anywhere without your masters keeping tabs on you.

Durn...I didn't know my Uncle Sam was such an evil guy...thanks for showing me the light.

Sent from my Samsung S4 (GT-I9500)

Edited March 29, 2014 by Pib

[hawker9000]

I will give you this personal example.

An example that couldn't possibly be more irrelevant.

In October 2013 my small regional bank in New England sent all their U.S. depositers a note stating that effective on 25 October 2013 they would no longer allow wire transfers outside the U.S.

The reason for this was "new Federal regulations".

No further information on what these "new Federal regulations" were'or are.

Small regional bank. And you didn't bother getting the info on the federal regs that affected this small regional bank. Maybe the bank just lacked expertise understand & apply the regs. Maybe they found it no longer cost effective for some reason. So it may not have been the regs, but the banks reluctance to ramp up a little.

Since you don't know, then you have nothing here really, esp related to the topic. Fed regs are not prohibiting, and never will prohibit, private citizens from transferring money to personal accounts abroad. Period.

My monthly Social Security direct deposits have just been switched to my new U.S. bank......I expect my first funds transfer to be somtime in April from my new U.S bank to my bank in Thailand .

And this last simply shows you don't know what you're doing and are wasting money. SSA will, and should, transfer the payment directly to Bangkok Bank, NY, and from there to your personal direct deposit account at your local Bangkok Bank branch. If the gummit itself is doing such transfers, they would hardly be prohibiting private banks from doing the same--at YOUR expense.

Next.

I think his example actually IS relevant. It depicts the same kind of variability that exists in Thailand from one bank to another. Some will, some won't (I think it's more like a few that won't, and most that will, but whichever...). So many people try and extrapolate THEIR pain and what happened to THEM at THEIR bank to EVERYONE at ALL banks... 'Just seems to make some people feel better to think that everyone will have to suffer just like they did.

[hermespan]

Why dies Thailand agree to pressure from the USA. Did they sign a treaty? Why don't they just say 'We are a sovereign nation and we refuse to be extorted by Amerika'? The only reason I can think of for comisnce is a 'you scratch my back, I'll scratch yours' reciprocity for financial spying and capital controls. Or Thai gov't us afraid of US one, of trade reasons. Even Seutzerland is no longer an independent if USA and EU pressure. It's becoming a one world banking system.

Glad Russia was kicked out by VISA and Mastercard. It's time for competition in the international marketplace of augment services. Too had it sounds like are not making it useful outside of Russia. Just on principle I would enlist.

[Naam]

Why dies Thailand agree to pressure from the USA. Did they sign a treaty? Why don't they just say 'We are a sovereign nation and we refuse to be extorted by Amerika'? The only reason I can think of for comisnce is a 'you scratch my back, I'll scratch yours' reciprocity for financial spying and capital controls. Or Thai gov't us afraid of US one, of trade reasons. Even Seutzerland is no longer an independent if USA and EU pressure. It's becoming a one world banking system.

Glad Russia was kicked out by VISA and Mastercard. It's time for competition in the international marketplace of augment services. Too had it sounds like are not making it useful outside of Russia. Just on principle I would enlist.

Russia was "kicked out" for exactly 52 hours.

[Naam]

I don't consider this a troll topic in the least.

Yes I concede it could have been worded much better, but the issues suggested by the question remain important to American expats, at least the ones that are starting to get a clue that some changes are REALLY happening.

I think you might be taking the OP too literally. To me, it's another thread about an important issue (to Americans only).

The literal answer is obvious, if there were no Thai bank account options for Americans in Thailand (seems unlikely), the Americans that need That bank accounts to exist here would be forced to leave. I think that would include a significant percentage of Americans here.

If some options close up (likely) then those Americans impacted by that will be scrambling to find alternatives, and some will be hurt.

Cheers.

Since there is zero evidence to dte of one single American having their accounts closed on account of their passport designation then the speculation lacks worth. Actually the speculation is a result of a lack of understanding of what really is happening which is that the US is increasing pressure on other countries to give them lists of US citizens holding bank accounts in those countries. Switzerland for one is leading a rearguard battle and some banks are refusing US citizens wanting to open new accounts. The actual risk to US citizens who do have Thai bank accounts is not that they will be closed but rather that they will be in trouble with US authorities if they have not declared those accounts prior. If anybody is going to close Thai bank accounts held be US citizens it is not going to be the Thai banks taking the initiative, it is the US citizen account holders.

some of the big Swiss multinational banks in Singapore have already "moved" last year all SG accounts of American citizens / U.S. Persons who are private (not corporate) investors to their headquarters in Switzerland where they have to deal with special "desks" set up exclusively for those liable to pay U.S. income tax. the clients had to sign a couple of indemnity documents pertaining to the release of information and Swiss banking secrecy laws.

as these banks accept only "well heeled" clients no additional fees are charged.

[Pib]

as these banks accept only "well heeled" clients no additional fees are charged.

I just may move my Thai bank accounts to Switzerland....plus I'm a heel. Do Switzerland banks require 500 baht as the minimum opening deposit?

[JSixpack]

I will give you this personal example.

An example that couldn't possibly be more irrelevant.

I think his example actually IS relevant. It depicts the same kind of variability that exists in Thailand from one bank to another. Some will, some won't (I think it's more like a few that won't, and most that will, but whichever...). So many people try and extrapolate THEIR pain and what happened to THEM at THEIR bank to EVERYONE at ALL banks... 'Just seems to make some people feel better to think that everyone will have to suffer just like they did.

No, it's utterly useless and irrelevant to compare the variability of banks in the USA to the variability of banks in Thailand. You've forgotten your Anna Karenina: “All happy families are alike; each unhappy family is unhappy in its own way.”

Your point is really about other posters and could be made about most any topic around here. True, there IS an awful lot of cheering oneself up whether it has anything to do with the topic or with anyone else.

Next.

[hawker9000]

Well, if it happens, it happens. And it really WON'T be a big surprise to me. We elect free-spending, big-government, tax-happy, meddling, liberal politicians and invite & empower them into every single aspect of our lives.... With all that reach and all those big-brother agendas to satisfy, why in the world WOULDN'T you expect huge deficits and scrutiny of overseas assets just like this? We were warned, but mocked those that tried to warn us. 'Still do. So enjoy! You earned it!

It's just that it's going to take more than an article on a website like "pakalert" to get me all worked up in the present case. But certainly 'not saying it can't ever happen.

[Jingthing]

On a related question, no I don't think there will be mass closures, which means in theory most of the Thai banks will cooperate with Big Bad Uncle Sammy. He's become scary! Anyway, how can they cooperate if they don't have our SOCIAL SECURITY numbers? If they are really going to cooperate, how is this going to work mechanically? I am not confident yet of the Thai banks competence on these matters, and that could end up hurting us in some way if they say they will cooperate but don't actually cooperate correctly.

[hawker9000]

Hmmm. So give 'em a social security number. Just not yours...

But I don't thnk that's necessary for them to require, actually. Your passport number is linked to your social security number (you didn't get your US passport without it), and you've probably already given them that. Uncle Sammy is more than able to link one to the other.

[Jingthing]

Hmmm. So give 'em a social security number. Just not yours...

But I don't thnk that's necessary for them to require, actually. Your passport number is linked to your social security number (you didn't get your US passport without it), and you've probably already given them that. Uncle Sammy is more than able to link one to the other.

I think you're wrong. I think they are supposed to be gathering information on us starting NOW. If they aren't gearing up to do that, going in and giving them something will be meaningless and they won't even be interested. I don't think you get the dangers. If they say they are cooperating and don't, then later they can be forced by the U.S.A. to withhold massive percentages of our incoming transfers, or similar consequences like that. That could be almost as bad as account freezes. People, this really is a serious change. Thailand is in a government crisis now ... do you really think the financial issues of a small number of Americans in Thailand is any kind of priority now?

Edited March 30, 2014 by Jingthing

[hawker9000]

Hmmm. So give 'em a social security number. Just not yours...

But I don't thnk that's necessary for them to require, actually. Your passport number is linked to your social security number (you didn't get your US passport without it), and you've probably already given them that. Uncle Sammy is more than able to link one to the other.

I think you're wrong. I think they are supposed to be gathering information on us starting NOW. If they aren't gearing up to do that, going in and giving them something will be meaningless and they won't even be interested. I don't think you get the dangers. If they say they are cooperating and don't, then later they can be forced by the U.S.A. to withhold massive percentages of our incoming transfers, or similar consequences like that. That could be almost as bad as account freezes. People, this really is a serious change. Thailand is in a government crisis now ... do you really think the financial issues of a small number of Americans in Thailand is any kind of priority now?

Just out of curiosity, what is it I said exactly that you think is wrong?

Anyway, let us know what's in your letter when you get it, and I hope others will too. Until then, seeing is believing, and aside from a few (very few) anecdotal stories, I just don't see the "serious change" yet. For sure, I'm not giving out my correct social security number, of all things, in Thailand. But like I said, I'm not saying this red alert can't ever happen. But I do think a freeze on transfers is more likely than withholding at this point. The line between due caution and scaremongering is awfully thin here...

[55Jay]

Hmmm. So give 'em a social security number. Just not yours...

But I don't thnk that's necessary for them to require, actually. Your passport number is linked to your social security number (you didn't get your US passport without it), and you've probably already given them that. Uncle Sammy is more than able to link one to the other.

I think you're wrong. I think they are supposed to be gathering information on us starting NOW. If they aren't gearing up to do that, going in and giving them something will be meaningless and they won't even be interested. I don't think you get the dangers. If they say they are cooperating and don't, then later they can be forced by the U.S.A. to withhold massive percentages of our incoming transfers, or similar consequences like that. That could be almost as bad as account freezes. People, this really is a serious change. Thailand is in a government crisis now ... do you really think the financial issues of a small number of Americans in Thailand is any kind of priority now?

You might be right and Thai banks could cut all of us off because they just can't be bothered. As you say, we are a relatively insignificant client profile to them.

On the other hand, if they have and desire to maintain their US banking links, then not reporting because of this insignificant client profile, doesn't make much sense.

My guess is the main stream Thai banks will comply. For most, it will be an anti-climax as we already self-report once a year anyway. For those who aren't on the straight and narrow, I can see how they might be thinking worst case scenario and chewing antacids.

[Naam]

as these banks accept only "well heeled" clients no additional fees are charged.

I just may move my Thai bank accounts to Switzerland....plus I'm a heel. Do Switzerland banks require 500 baht as the minimum opening deposit?

for Americans the initial transfer of assets is much higher. i'm not sure but rumour has it that the minimum is 1,500 Baht, in rare cases even 2,000 Baht

[IsaanUSA]

What happens to your funds when the bank closes your account?

This I wouldn't worry too much about. I wouldn't be so paranoid as to think they would steal the funds. Close would likely mean freeze, and then you go in and get the money somehow. I also don't really think there are going to mass closures at most Thai banks. But something is going to happen, I'm just not clear what yet.

What do you think happens...Thailand isn't some third world kleptocracy, where they confiscate the funds of foreigners while kicking them out the door. This isn't Uganda in the 70's, when there was a complete breakdown of law and order...oh, maybe it is! Seriously, you will just get your money back..."how would you like it sir...bank check or cash?" Really, some of you really need to get over your paranoia with regards to money.

I have no idea what would happen. That's why I asked.

[Pib]

What happens to your funds when the bank closes your account?

This I wouldn't worry too much about. I wouldn't be so paranoid as to think they would steal the funds. Close would likely mean freeze, and then you go in and get the money somehow. I also don't really think there are going to mass closures at most Thai banks. But something is going to happen, I'm just not clear what yet.

What do you think happens...Thailand isn't some third world kleptocracy, where they confiscate the funds of foreigners while kicking them out the door. This isn't Uganda in the 70's, when there was a complete breakdown of law and order...oh, maybe it is! Seriously, you will just get your money back..."how would you like it sir...bank check or cash?" Really, some of you really need to get over your paranoia with regards to money.

I have no idea what would happen. That's why I asked.

What would most probably happen is your account would first be frozen on date X awaiting you to come in to provide the necessary documentation/signatures and/or withdraw the funds. And hopefully you would get a letter from the bank in advance of this action. I expect if you didn't come in the funds would set frozen/in limbo until the Thai govt/Bank of Thailand gave the banks some definitive guidance.

[JimGant]

I think they are supposed to be gathering information on us starting NOW.

Well, some already have queried 'possible US persons.' See post 83 on this thread:

http://www.thaivisa.com/forum/topic/681569-thai-govt-approves-tax-law-negotiations-with-us/page-3

Note the request for Form W9, if a US person (W8BEN, if not). This is where they'll get your SSN particulars:

Anyway, how can they cooperate if they don't have our SOCIAL SECURITY numbers? If they are really going to cooperate, how is this going to work mechanically?

Form W9 will be required, if your bank asks for it -- and you're a 'US person.' Sure, you can fill in a phony SSN. But when that's discovered (and it will be, when name and number don't compute at mother Treasury), you're now a "recalcitrant" in the eyes of FATCA -- and funny things will happen courtesy of your participating Foreign Financial Institution. Also, the IRS has got you by the short and curlies when it comes to perjury. From the Form W9 instructions:

Under penalties of perjury, I certify that:

1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and

2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or ( I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or © the IRS has notified me that I am no longer subject to backup withholding, and

3. I am a U.S. citizen or other U.S. person (defined below), and

4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct

But, if you didn't have $50,000 in your Thai bank account(s) (single bank and its branches) on Dec 31, 2013 -- you're not reportable. Doesn't mean your bank won't collect additional information on existing account holders with US Indicia. But they don't have to under FATCA guidance about canvassing existing account holders for additional information. Due diligence is adhered to by just searching existing data bases.

De Minimis Account Rules. Note, unless the Participating FFI elects otherwise, an account is a non-US account if (i) the account is a depository account; (ii) each holder of such account is a natural person; and (iii) the balance or value of such account as of the end of the calendar year preceding the effective date of the FFI's Agreement does not exceed $50,000 (or the equivalent in foreign currency). So too, unless a Participating FFI elects otherwise, an account of a natural person, such as a securities account, is a non-US account if the balance or value of the account as of the end of the calendar year preceding the effective date of the FFI's FFI Agreement does not exceed $50,000 (or the equivalent in foreign currency).

Why they would want to waste resources for de minimis folks is beyond me. More discussion on this thread:

http://www.thaivisa.com/forum/topic/709229-american-expats-with-bank-accounts/

[thrilled]

A woman who is an American just got her bank account closed in Germany.It won't be long before Bangkok starts doing the same thing.Expats are going to have problems.That includes me.