American Women's Club of Hamburg Currents Magazine January 2014 | Page 27

Happy Bir thday to Us! By Becky T. The AWC Hamburg is 57 years old this month. Actually we already existed in 1931, and joined FAWCO in 1935. We even hosted the eighth FAWCO conference in 1938. During the war years the club was disbanded to return officially in January 1956 as the American Women’s Luncheon Club. Shortly afterwards it became The American Women’s Club of Hamburg. Originally the “newsletter” was a one-page invitation to the monthly luncheon written by someone’s husband’s secretary, printed and mailed from his office. The first dues were DM 5 in 1973 to cover the costs of this mailing. In 1979 dues were raised to DM 35, after an end-of-year review showed a deficit of DM 144.90. Dues were raised to DM 65 in 1984, to DM 70 in 1987, and to DM 100 in 1992. The one-page invitation began to expand in 1976 to include current events in Hamburg, recipes, places to visit, as well as survival information. Later, this provided the groundwork for publication of Hamburg in Your Pocket and then Bloom Where you are Planted. In 1985 we became a registered club (eingetragener Verein or e.V.). Now, many years later, we are still changing, expanding, analyzing, and working for the betterment of the club. Soon we will have an electronic issue of Currents; dues will be changed again –this time in the opposite direction, i.e., lower rather than higher. In Germany there are six more American Women’s Clubs (although Augsburg and Munich are actually international) in FAWCO – our sister clubs, so to speak. What about them? Augsburg was founded in 2010 and has 35 members. Dues are € 50. Their newsletter is published only electronically. Berlin was founded in 1931, disbanded during the war and came back in 1994. It has 15 members. Dues are € 50, with special rates for senior citizens. They correspond electronically. Cologne was founded in 1961, and has 260 members with dues at € 60. They publish an electronic newsletter, but print one six times a year as well. Düsseldorf, founded in 1959, has 180 members, € 65 dues, and an electronic newsletter, as well as a printed one which comes out four times a year. Munich came into existence in 1980, has 240 members, dues at € 50, and only an electronic newsletter. The Taunus (aka Frankfurt) was founded in 1971. It is the largest with 400 members, most expensive at € 75 and has only an electronic newsletter. GOOD NE WS! What FAWCO has been able to do for US citizens living overseas. From the FAWCO U.S. Liaison, Lucy Laederich (AAWE Paris) FATCA For most of us in FAWCO today, Foreign Account Tax Compliance Act (FATCA) has come to symbolize invasive reporting on private financial information related to our legitimate accounts in the countries where we live and work (and often, those of our non-American spouses). However, there has been some good news: the original $50,000-aggregate threshold above which individuals are required to submit IRS Form 8938 with their tax declaration has been raised to $200,000; the deadline for FATCA reporting has been pushed back, several times; Treasury Currents January 2014 has created an extremely complete and helpful “topic index” for overseas filers (http://taxmap.ntis.gov/taxmap/ internationalindex.htm); foreign financial institutions are now obliged to report extensively only on “high-value” or “high-risk” accounts. We must also remember that FATCA is a fact: it has been signed into law and both EU and OECD countries are exploring ways to implement their own versions. Following the first “joint statement” signed in late 2012 between the United States and France, Germany, Italy, Spain and the UK, seven countries (Denmark, Germany, 27