[quote=Jazzman]It is getting harder and harder to open and maintain foreign currency accounts abroad due to IRS filing requirements. Those few banks that were willing are now no longer wanting the hassle. One bank said they did not see why the local tax payer should be on the hook for US tax filing requirements, and will be closing my account. Just like that. Another, huge US bank, will not let me have access their best eurodollar savings rates in spite of being a long standing client. Yet, another US bank based abroad just turned me down, even though I have a US account with them. Fixed incomers are getting more and more screwed. Not only are you getting negative nothing, you’ve got to be denominated in USDs, AND have your accounts in the US. Although this affects few people, to those that is does, it is very irksome.[/quote]
Try UBS. It’s possible you may have to go to Europe to open the account, but they don’t have any problem holding non-dollar investments for US citizens. No idea what their minimum account is, and their fees aren’t cheap. The have a crappy online interface, no trading or transacting online. All docs are delivered via email. And they do send 1099’s at the end of the year. But you can hold your assets in any denomination.
