Why renounce the US citizenship, if you’re retiring? There’s only one benefit from renouncing the US citizenship. You’re no longer a tax resident. There’s als

Why renounce the US citizenship, if you’re retiring? There’s only one benefit from renouncing the US citizenship. You’re no longer a tax resident. There’s also a $112k+inflation/year exemption for foreign earned income for non-residents. https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion https://www.irs.gov/individuals/international-taxpayers/fore... So if you’re renouncing your citizenship for tax reasons, it’s very unlikely that it’s going to be worth it, if you’ve got under $2m in assets. Not to mention that if you decide to return to the US, not only have to go through the US immigation system, but you also won’t clear a background check, because people who renounce their US citizenship are entered into the NICS system.