It's not only impractical, but for U.S. citizens at least, practically impossible. I lived in Switzerland as an ex-pat worker for a few years, so I had a Swiss bank account. Nothing fancy, just a regular post office bank account like 75% of Swiss people have. When I moved back to the U.S. I kept it open with a modest balance since I had a debit card I could use when I was in Europe that kept me from incurring currency conversion costs. Over the years, the U.S. regulations made it very difficult to keep it open. The bank didn't want to deal with it, so they made it hard enough that I finally closed it.

I know why the U.S. does it, but that doesn't mean that I, as an honest taxpayer, have to like it.