Originally Posted by
GUWonder
FATCA was supposedly named so as to be aimed at proverbial "fat cats", but it mainly hits individuals who are anything but proverbial fat cats.
You just blew my mind with this factoid
Once the account is open and operating for some time, the banks are more likely to let the account remain. But then there may be the issue of keeping an address for relevant physical mail delivery at times.
Interestingly this was not my experience in Switzerland: once my bank realized I was not a resident they told me to close the account, or they would have terminated it. I still had a valid address and everything, it's just that they don't want to deal with the hassle of reporting, unless of course you make it worth their while with a six figure account.