0
0
0
Overseas Americans Financial Access Act
12/30/2022, 8:03 AM
Summary of Bill HR 5799
Bill 117 hr 5799, also known as the Overseas Americans Financial Access Act, is a piece of legislation introduced in the US Congress. The purpose of this bill is to address the challenges faced by Americans living abroad in accessing financial services.
The bill aims to make it easier for overseas Americans to open and maintain bank accounts, as well as access other financial services such as loans and investment accounts. It seeks to streamline the process for Americans living abroad to prove their identity and comply with US financial regulations.
Additionally, the bill includes provisions to protect the privacy and security of Americans' financial information while living overseas. It also aims to ensure that Americans living abroad are not unfairly penalized by financial institutions due to their overseas residency. Overall, the Overseas Americans Financial Access Act is designed to make it easier for Americans living abroad to manage their finances and access the services they need while complying with US regulations.
The bill aims to make it easier for overseas Americans to open and maintain bank accounts, as well as access other financial services such as loans and investment accounts. It seeks to streamline the process for Americans living abroad to prove their identity and comply with US financial regulations.
Additionally, the bill includes provisions to protect the privacy and security of Americans' financial information while living overseas. It also aims to ensure that Americans living abroad are not unfairly penalized by financial institutions due to their overseas residency. Overall, the Overseas Americans Financial Access Act is designed to make it easier for Americans living abroad to manage their finances and access the services they need while complying with US regulations.
Congressional Summary of HR 5799
Overseas Americans Financial Access Act
This bill modifies tax reporting requirements that apply to foreign financial institutions and individuals with foreign financial assets to create exceptions for the foreign accounts of certain U.S. residents or citizens living abroad.
Read the Full Bill
Current Status of Bill HR 5799
Bill HR 5799 is currently in the status of Bill Introduced since November 1, 2021. Bill HR 5799 was introduced during Congress 117 and was introduced to the House on November 1, 2021. Bill HR 5799's most recent activity was Referred to the House Committee on Ways and Means. as of November 1, 2021
Bipartisan Support of Bill HR 5799
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
24Democrat Cosponsors
22Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5799
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 5799
Overseas Americans Financial Access Act
Overseas Americans Financial Access Act
To amend the Internal Revenue Code of 1986 to provide an exception from certain reporting requirements with respect to the foreign accounts of individuals who live abroad.
Comments
Sponsors and Cosponsors of HR 5799
Latest Bills
ESTUARIES Act
Bill HR 3962December 13, 2025
Federal Maritime Commission Reauthorization Act of 2025
Bill HR 4183December 13, 2025
National Defense Authorization Act for Fiscal Year 2026
Bill S 1071December 13, 2025
Enduring Justice for Victims of Trafficking Act
Bill S 2584December 13, 2025
Technical Corrections to the Northwestern New Mexico Rural Water Projects Act, Taos Pueblo Indian Water Rights Settlement Act, and Aamodt Litigation Settlement Act
Bill S 640December 13, 2025
Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025
Bill HR 3383December 13, 2025
BOWOW Act of 2025
Bill HR 4638December 13, 2025
Northern Mariana Islands Small Business Access Act
Bill HR 3496December 13, 2025
Wildfire Risk Evaluation Act
Bill HR 3924December 13, 2025
Energy Choice Act
Bill HR 3699December 13, 2025