The Foreign Account Tax Compliance Act requires foreign financial institutions to report accounts of US citizens to the Internal Revenue Service. The consequence of this is that foreign banks are refusing to cash US checks and closing accounts of US citizens because they do not want to do additional paperwork for the US government. This makes it difficult for US citizens living outside the United States to access their funds from US banks except through costly bank wire transfers or ATM withdrawals with costly US bank foreign transaction fees, .
Resolved that the IRS be directed to allow foreign banks to cash US checks up to $9,999.00 USD so that individuals may be able to provide for their living expenses in a foreign country without complying with FACTA.