World Radio Switzerland

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Credit Suisse shutting some U.S. clients out of accounts

Credit Suisse is denying access to the offshore accounts of its American customers, if they don’t provide evidence of U.S. tax compliance. A WRS investigation suggests this unusual practice has been quietly implemented for some time. For many it’s a sign Credit Suisse is eager to settle charges it’s helped U.S. clients evade taxes. In fact, a voluntary disclosure program for U.S. taxpayers runs out on September 9. WRS’s Daniel Ryntjes reports from Washington:

Credit Suisse’s practice of forcing U.S. clients to sign declarations that they’re on the up-and-up with American tax authorities if they want access to their accounts is just the latest hurdle for American bank customers. Marylouise Serrato is the Geneva-based executive director of American Citizens Abroad:

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more WRS coverage on banks, tax