Every Financial Institution in the world is subject to the US FATCA law. As such, they must report all transactions on accounts over a certain thread hold held by US persons. The reality is they are reporting on us regardless of the balance. Failure to do so results in a 30% non compliance fee on all US derived income. For citizens of other countries living abroad, most of the OECD’s CRS that rat them out to their home lands. For nor, most living in the land of their birth and citizenship are free from theses concerns in the present. However, as we have seen with the $600. Venmo reporting requirement for US Citizens and non citizen residents, this will likely be the case domestically once they use we expats as the Guinea pigs and get things ironed out.