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In 2015, they completed the phase-in of new reporting requirements for ex-pats. Some of which are quite onerous. Among other things, you will need special ban

by hapless 11y ago

In 2015, they completed the phase-in of new reporting requirements for ex-pats. Some of which are quite onerous. Among other things, you will need special banking services in your new home country, because foreign banks do not necessarily make FACTA reports for all accounts. Some won't even open accounts for Americans.

ics 11y ago
Additionally the fee to renounce is now $2,350 which is almost 5x what it was before.
- brbsix 11y ago
  I think $2,350 is the least of anyone's concern when renouncing their citizenship, particularly if they're wealthy. There are massive exit taxes if you follow the letter of the law.