Expatriation 2024-03-19
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My final US taxes were filed with the IRS a couple of weeks ago. I
have now 'expatriated'. Not from being a US citizen like tomasino [1],
but from having held a green card long-term.
After 11 years in the USA it has taken almost 2 years to dis-entangle
myself from its clutches. First, you leave the country. Second, you
officially abandon your green card for immigration purposes. Third,
you have to file a final tax return, with the expatriation forms. Not
quite as expensive as renouncing citizenship, but it's still costly to
ensure the taxes are done right.
Saying that there are three steps is under-selling the complexities,
though. After more than a decade of US employment you might expect to
have US bank accounts, savings, retirement accounts. Some of these are
likely an immediate liability under the tax / financial rules in your
new home... but their new-home equivalents are a liability for US tax
purposes until you have officially expatriated. Advice is available at
a cost, but it's a huge cost... aimed at millionaires.
All done now, though. Next time we visit the USA I need an ESTA, and
British banks and building societies will no longer look at me
funny...
Of course, my wife is still a US citizen... and our two children are
dual citizens... so I haven't seen my last IRS form yet.
[1]
gopher://gopher.black:70/1/phlog/20240203-renunciation
