Retiring Abroad | NARFE MAGAZINE

"Retiring Abroad," by Herb Casey, NARFE MAGAZINE, December 2025

U.S. banks can restrict or close accounts for citizens living abroad due to the complexities of the FATCA, which requires them to report American clients' information to the IRS. U.S. citizens can generally keep their accounts, but they must meet the bank's requirements, which often include maintaining a valid U.S. address and phone number. The State Department Federal Credit Union allows individuals living abroad who join American Citizens Abroad (ACA) https://www.americansabroad.org/ to become members, even if you don’t have a residence or address in the U.S.

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