(TL;DR: The U.S. is making foreign banks rat out the Americans with accounts if those banks want to play ball in the U.S. marketplace. The purpose is to find out who has been hiding money / not declaring their income stashed overseas via F-BARs and yearly 1040s)
This is a screenshot from e-Bank aka Rakuten Bank's setting screen. Somehow, they knew I was Japanese and not American. Either that or a lucky guess.
(for the Japanese challenged: it says:
Self Declaration/Oath for the U.S. FATCA Law:
For U.S. Citizens and/or those who live in the U.S.:Regarding FATCA, click here
- __ I am a American
- __ I am not a American
Mr. American: that Canadian flag affixed to your backpack isn't fooling anyone.