> There are other countries as well, Americans just like to complain about it.
If you are not an American who lives abroad then, with respect, you don't know what you're talking about. May you never have the experience of a bank in your country of residence refusing to do business with you because they fear the reporting burden incurred by serving clients of your nationality. Perhaps the Canadian Revenue Agency wishes it could compel banks in foreign lands to report the financial activities of the citizens under its purview, but the IRS actually can, and does.
If you are not an American who lives abroad then, with respect, you don't know what you're talking about. May you never have the experience of a bank in your country of residence refusing to do business with you because they fear the reporting burden incurred by serving clients of your nationality. Perhaps the Canadian Revenue Agency wishes it could compel banks in foreign lands to report the financial activities of the citizens under its purview, but the IRS actually can, and does.