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so in this video i wanted to talk about u.s factor reporting for u.s persons i get this question a lot from my clients that are looking to open non-us bank accounts or open a non-us brokerage account or perhaps even open a um a cryptocurrency brokerage account thats not a u.s exchange so something thats not coinbase lets say and they run across this u.s fatca stuff so what is it what do you need to be worried about lets go through the high level details and some examples so u.s faka so the u.s foreign account tax compliance act this was passed almost a decade a decade ago but it was really first implemented in 2014 and so what this legislation was designed to do is it required foreign banks and foreign financial institutions to report to the u.s government information on u.s persons that held accounts in those foreign financial institutions okay so if you have a non-us bank that has lets say me im a uss and if i open a bank account with a foreign bank what information does that f
