Petition No 0323/2021 by G.L. (French), bearing four signatures, on alleged infringement of certain rights of bi-national European/American citizens resulting from FATCA
78 Supporters
Status: Available to supporters
0323/2021
Summary title: Petition No 0323/2021 by G.L. (French), bearing four signatures, on alleged infringement of certain rights of bi-national European/American citizens resulting from FATCA
Petition number: 0323/2021
Topics:
Consumer Rights,
Economic and Monetary Affairs,
Constitutional Affairs,
Financial Services,
Equal Opportunities and Gender
Country:
European Union
Name of association: European and Dutch Accidental Americans
The petitioner explains that due to the Foreign Account Tax Compliance Act Intergovernmental Agreements (FATCA IGAs) signed between the Member States and the United States, bi-national European/American citizens are considered US citizens in Member states by banks, asset management and insurance companies, and governments. Under this regulation, all banks and companies are supposed to register the citizens with the American Internal Revenue Service in order to identify and report their US clients, even if they are also European citizens.Therefore, the petitioner denounces that their personal data are being routinely exchanged with a non-member state and that some of these financial institutions are denying them to access their services or even prohibiting them from purchasing shares of mutual funds. The petitioner explains that this situation generates discrimination based on nationality, breaching Article 18 of the TFUE and Article 21.2 of the Charter of Fundamental Rights. She also points out that some national authorities in charge of financial markets have ignored this discrimination and that, although the EU is completely aware of the situation, it has never acted to address it. The petitioner calls on the European Parliament to take action to put an end to this discrimination and to mandate the European Securities and Markets Authority to start an investigation against the national competent authorities that allow it. She also calls to urge the European Commission to negotiate with the US authorities to achieve the right for the bi-national European/American citizens to renounce the US citizenship without facing any kind of hindrances, entering into compliance with the IRS or paying the Exit Tax.