Originally Posted by
DjHubberts
A Chinese bank account is just about the best thing out there as they report nothing to the US Banking system. The only problem there is good luck getting your money back out.
Not anymore. On June 28 China formally agreed to accept the provisions of FATCA (Foreign Account Tax Compliant Act) which requires the reporting of all bank accounts owned by U.S. Citizens and green-card holders to the IRS. This is becoming more and more prevalent throughout the world.