My phone is ringing off the hook. UBS customers are getting The Letter.
If you have received The Letter your options are limited:
- Fight disclosure in Switzerland (I have referred clients to Swiss lawyers for this);
- Apply for the amnesty program before the 15th; or
- Sit tight and hope.
You do not have the option of closing the account and moving it somewhere else.
FWIW I believe that 1,500 of these letters have been mailed so far.
Relatively small balance? Doesn’t seem to be a factor.
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