The fear of the new 1% remittance tax being charged in error won't be relevant for most expats or foreign investors. It does not apply at all to transfers from banks.

The fear of the new 1% remittance tax being charged in error won't be relevant for most expats or foreign investors. It does not apply at all to transfers from banks.

It primarily targets informal money transfer methods, such as cash-based services like Western Union, rather than formal bank transfers.

These services are Trump's target, used almost primarily by immigrant populations (with the main intention to make life harder for illegals who can't open a bank account).

So expats or foreigners with bank accounts in the US don't have to worry about getting caught up in this. 

Foreigners with bank accounts don't have this issue, either. Only illegal ones without visas who can't open bank accounts (or have a very difficult time opening accounts).

I expect immigrants to look for workarounds, such as utilizing ITIN numbers to avoid visa scrutiny by banks when opening accounts, or utilizing Fintech accounts with less regulation. 

Some Fintechs allow cash deposits through national ATM networks which would serve their needs. Once the cash is deposited, they can then transfer overseas and avoid the 1% tax.

Some alarmists are predicting chaos for expats, but that's unfounded.