Minister, yesterday you told the House that we obtained a number of concessions, including exempting certain accounts such as RRSPs, RDSPs, and TFSAs from FATCA reporting.
Now, this is only half the story. These exemptions apply to Canadian banks and their obligations, not individuals.
Can you clarify the record here at committee, that under FATCA, is there still a requirement for Canada-U.S. dual citizens living in Canada to report their registered Canadian accounts to the IRS?