Here’s a link to the story for those interested.

Meanwhile if the same guy showed up on lemmy telling you how much their corporate job sucks and their boss is completely clueless, everyone would pile on to say they should quit.

https://www.fatf-gafi.org/en/countries/global-network.html

I am sure there are better sources than this, but I am going by what I was told by the bank when I opened an account here in Japan. And maybe it does not only apply to Americans, but I was told at the bank that I had to fill out additional anti-terror related paperwork with US details specifically because of US citizenship.

The exemption only applies to earned income, meaning you cannot apply any of that $125k to stuff like investment returns, dividends, royalties, or rents collected.

There is a system whereby foreign banks are obligated to report accounts held by Americans to the US for “anti terrorism” purposes.

And as a us citizen you are also obligated to report all of your foreign accounts in a FBAR filing each year.