Non-FATCA Banks in Mongolia



Don’t rely on this quick-reference guide, whatever you do! Check IRS website for a FATCA GIIN. Also check whether an intergovernmental agreement is in effect: TREASURY

The U.S. Department of the Treasury makes a show of all the jurisdictions entering into IGA’s and all the FATCA-registered FFI’s but for some strange reason they do NOT make it easy to find the jurisdictions without IGA’s or the banks in those jurisdictions that do NOT participate in FATCA.

Typically this website lists banks with a SWIFT BIC, and smaller banks tend not to have a SWIFT BIC.

If it shows a GIIN then they are FATCA registered.
Name of a financial institution
A FATCA-registered financial institution with a similar name
BANK OF MONGOLIA THE
ULAANBAATAR
NONE
CAPITAL BANK OF MONGOLIA
ULAANBAATAR
VCP328.99999.SL.496
Capital bank
Mongolia
CAPITRON BANK
ULAANBAATAR
NONE
CHINGGIS KHAAN BANK
ULAANBAATAR
B8YJ29.99999.SL.496
Chinggis Khaan Bank LLC
Mongolia
CREDIT BANK OF MONGOLIA
ULAANBAATAR
UFMFZI.00004.ME.496
CREDIT BANK Co., LTD
Mongolia
DEVELOPMENT BANK OF MONGOLIA
ULAANBAATAR
NONE
ERELBANK OF MONGOLIA (ERELBANK LTD)
ULAANBAATAR
JSQH0J.99999.SL.496
Erelbank LLC
Mongolia
GOLOMT BANK OF MONGOLIA
ULAANBAATAR
4SFY5L.00000.LE.496
GOLOMT BANK LLC
Mongolia
KHAN BANK OF MONGOLIA
ULAANBAATAR
24NV13.99999.SL.496
Khan Bank LLC
Mongolia
NATIONAL INVESTMENT BANK OF MONGOLIA
ULAANBAATAR
BNNZIZ.99999.SL.496
NATIONAL INVESTMENT BANK LLC
Mongolia
SAVINGS BANK MONGOLIA
ULAANBAATAR
NONE
STATE BANK
ULAANBAATAR
T8A3CF.99999.SL.496
State Bank LLC
Mongolia
TRADE AND DEVELOPMENT BANK OF MONGOLIA
ULAANBAATAR
S19Z50.00001.ME.496
TDB Capital LLC
Mongolia
ULAANBAATAR CITY BANK
ULAANBAATAR
2AHRGF.00000.LE.496
Ulaanbaatar City Bank
Mongolia
XACBANK
ULAANBAATAR
Y2CL41.00001.ME.496
XacBank LLC
Mongolia
The boundaries of the United States of America are the boundaries of the United States of America.

Around the world, people are learning that they are “citizens” of the U.S.A., and faced with criminal charges and devastating financial penalties for failing to report to Washington, D.C. their local bank accounts, when they don’t even live in the United States, and under the laws of their country, they are citizens only of their country.

Complicating the problem is that the U.S. Supreme Court gave them back their citizenship even if they did not want it. The court ruled in a manner consistent with U.S. Constitution, Amendment 14, which says:
All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States, and of the State wherein they reside.


But how can a country unilaterally acquire the authority to tax people overseas? These people are no more U.S.A. “citizens” than U.S. Senator Ted Cruz was a “Canadian” when he learned in 2013 that he was still a citizen of Canada under Canadian law.

The fee to renounce U.S. citizenship is $2,350.00 and they require five years of tax returns and sometimes an exit tax, and in some cases they keep taxing for ten more years. This is unacceptable.

If they want money they should repeal the income tax and use a federal sales tax, based on domestic consumption, which does not invade personal privacy. If you pay with cash there is no paper trail revealing what you buy, so why should there be a paper trail showing how much money you have, or make? Cars built overseas and sold in the U.S.A. would be taxed in the U.S.A., making the U.S.A. more competitive.



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