Acronyms and Definitions

Acronyms and Definitions

Acronyms

AARO:  Association of Americans Resident Overseas

ACA: American Citizens Abroad: “The voice of Americans Overseas”.

CBA: Canadian Bankers Association: business association for banks, providing centralized contact between the government and banks.

CCLA: Canadian Civil Liberties Association: “Since 1964, CCLA has passionately defended the fundamental human rights and civil liberties of all Canadians…”

CIC: Citizenship and Immigration Canada

CLN: Certificate of Loss of Nationality: issued by the United States upon relinquishment or renunciation of American citizenship.

Thanks to Johnnb for these additional acronyms on CLN:

CA – Consular Affairs
OCS – Overseas Citizens Services
ACS – American Citizens Services
WHA – Western Hemisphere Affairs

Thanks to Pacifica for CLN office acronyms for Sandboxers in the eastern hemisphere:

AF = African Affairs
EAP = East Asian and Pacific Affairs
EUR = European and Eurasian Affairs
NESCA = Near Eastern and South and Central Asian Affairs

CAS: Competent Authority Services: Where a person considers that the actions of Canada or a treaty partner result or may result in taxation not in accordance with a particular treaty, the person may request competent authority assistance.

CRA: Canada Revenue Agency

DOS: (United States) Department of State

DOJ: (United States) Department of Justice

DOT: (United States) Department of Treasury

FATCA: Foreign Account Tax Compliance Act – the United States attempt to get all banks to identify and report on their ‘US persons’. Supposedly to combat tax evasion. (Blaze calls FATCA Foreign Attack To Control All)

FBAR: Report of Foreign Bank and Financial Accounts – all US persons must file an FBAR if the aggregate value of all foreign accounts exceeds $10,000 at any time during the calendar year, and on any accounts the person has an interest in or signing authority on. Massive penalties can be applied for failing to file.

Form 1040: U.S. Individual Income Tax Return.

Form 4079: Request for determination of loss of United States citizenship

Form 4080: Oath/Affirmation of Renunciation of Nationality of United States.

Form 4081:  Statement of Understanding Concerning the Consequences and Ramifications of Renunciation or Relinquishment of U.S. Citizenship.

Form 4083:  Certificate of Loss of Nationality of the United States.

Form 8854: Initial and Annual Expatriation Statement, six page form to be filed with IRS by June 15th of year following expatriation (see links for form and instructions).

Form 8938: Statement of Specified Foreign Financial Assets – required by the IRS, but it difficult to see the difference between this and FBAR.

IBS: Isaac Brock Society: a hard hitting blog dedicated to fighting the United States policy on citizenship based taxation, and a lot more.

IGA: Intergovernmental Agreement – country to country agreement on FATCA implementation.

IRS: Internal Revenue Service: the bully we’re fighting (Blaze calls IRS International Robbery Society)

Minnow: average people, not rich, who were, for the most part, unaware that they should have been filing income tax returns and reporting on their bank accounts to the US.

OVDI/OVDP: Offshore Voluntary Disclosure Initiative/Program: an IRS program that allows the wealthy who have not filed taxes or financial account reports to come into compliance. This comes with a very high price and is not intended for the average person, although many have been caught in it.

Relinquishment: usually done by performing an expatriating act. This was not difficult to do in the past, but is much more difficult now.

Renunciation: a formal declaration to give up citizenship. There are forms to fill out, and must be done at a consulate.

TD F 90-22.1 – Report of Foreign Banks and Financial Accounts – in other words – FBAR.

USA: United States of Arrogance (as we affectionately like to call it)

W8-BEN: Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding. This is the form a bank will ask for from a NON- US person on their US financial accounts.

W-9: Request for Taxpayer Identification Number and Certificate. Banks will ask for this if a person is identified as a US person.

Whale: as hunted by the IRS, a whale is very wealthy person who has either not filed their taxes or who has hidden money in offshore accounts.

20 thoughts on “Acronyms and Definitions

  1. SSN= Social Security Number.

    The identifying number which is necessary for filling W9 form by those who the banks identified (Or, in some cases, registered mistakenly) as U.S. PERSONS (=USPs). USPs who don’t fill W9 even only because inability to get SSN are likely to have frozen or closed bank accounts.

    Very frequently, it’s very difficult for those who are considered to be USPs to get SSN. It’s especially likely to be difficult for the next categories of people:

    Those who were mistakenly registered in the bank as USPs OR those who were born in usa and left it by a rather young age OR those who have never been to usa, but were born to american citizen parents and therefore (IF some more data exist) are also considered by usa as USPs .

    USPs who have a GreenCard or an american passport or an american driving license have higher chances to get SSN.

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