Viewing profile — Question50

Yes, non-US pooled funds (e.g., ETFs, mutual funds, etc.) as well as most non-US pensions fall afoul of PFIC rules and their complex & expensive reporting requirements. This usuall…

No, though that was the case pre-1934 [1]. Remember that Hawaii, where his father is from, didn't become a state until 1959 and there are physical residence/presence tests required…

The US Dept. of State Foreign Affairs Manual used by consular officials, who have wide latitude in this area: https://fam.state.gov/fam/07fam/07fam1260.html#M1266 100% though on th…

Nationality & tax laws are two different though, in the case of the USA, intertwined things. One can be born abroad to a US citizen and not be eligible for US citizenship; Keanu Re…

Incorrect, as until the business reaches a certain size it is considered a Controlled Foreign Corporation [1]. In addition, it is subject to GILTI[2] (pronounced "guilty"). [1] htt…

No, generally one must provide evidence from the IRS of 5 years worth of tax compliance in order to relinquish. The majority of US taxes go towards Social Security, healthcare (Med…

Post-tax US retirement accounts (e.g., Roth-IRA/401K, etc.) are generally seen as normal investment accounts by the tax authorities in the US expat's country of residence. Therefor…

Personal context: I am American, have lived in 9 countries on 5 continents & currently live in Europe, and am the same age as the OP. Immersing oneself within another culture is al…