Archive of entries posted in May 2015

What Happens to Your Retirement Plans and IRAs when You Relinquish US citizenship or abandon your green card?

The U.S. is the only country in the world which levies taxes on the basis of citizenship rather than residency—meaning people can be liable to the IRS without ever having lived in the country, if they hold a U.S. passport or green card. AU.S. citizen or a long-term resident can permanently disconnect from future tax obligations by relinquishing their U.S. Continue Reading »