ISRAELI BANKS PURGE AMERICAN ACCOUNTS
As the Obama administration continues to turn over every stone in search of revenue, Americans who have investment accounts with Israeli banks have been asked to close their accounts. This was seen as a precaution taken by the local Israeli banks to avoid putting their U.S. banking licenses in jeopardy, ala UBS.
I was recently quoted in an article in Haaretz about this issue.
It now appears that hidden in the depths of the new Hire Law, are a few clauses sharply tightening reporting procedures for Americans that have foreign investment accounts.
I will continue to update you as I gather more information.
The information contained in this article reflects the opinion of the author and not necessarily the opinion of Portfolio Resources Group, Inc., or its affiliates.
Aaron Katsman is author of the book Retirement GPS: How to Navigate Your Way to A Secure Financial Future with Global Investing (McGraw-Hill), and is a licensed financial professional both in the United States and Israel, and helps people who open investment accounts in the United States. Securities are offered through Portfolio Resources Group, Inc. (www.prginc.net). Member FINRA, SIPC, MSRB, SIFMA. For more information, visit www.aaronkatsman.com or email aaron@lighthousecapital.co.il
