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 usually bites people with mandatory…
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 the US tax preparation industry.
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 Reves is a great example of that.[1]…
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 (Medicare), benefits for US…
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. Therefore they offer no retirement tax benefits.
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 almost always worth it, but like anything…
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 usually bites people with mandatory…
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 the US tax preparation industry.
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 Reves is a great example of that.[1]…
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 (Medicare), benefits for US…
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. Therefore they offer no retirement tax benefits.
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 almost always worth it, but like anything…