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@resjudicata Income that was taxed by the US can be used to make contributions to these plans. So as long as the FEIE is not used or the income exceeds the FEIE, contributions are possible, as the US taxes the worldwide income of their citizens regardless of where they live. Whether...

@liseylis Filing is a good idea even if you technically do not have to do so. Once a return is filed, the statute of limitations starts running for the IRS to audit the return.

@liseylis The income threshold for filing is well below that. For single filers, is is generally below $20k. The threshold can be surprisingly low in some cases, like income from self-employment ($400/year). Probably. Consider carefully if the streamlined procedure is the best option. The...

@kimhills It is sufficient if two out of the three requirements are met. I have found conflicting descriptions of the transaction requirement (ten transactions in the last year vs. ten transactions in each quarter of the last year), but they did not appear outlandishly high.

@genenco Depending on how much money there is, this may be an option. Doing so requires two out of a) 500k€ ready to invest, b) significant working experience in the financial sector and c) a number or recent transactions. Someone not working in finance might be able to fulfill a) and c).

@kimhills It may be wise to do research on "controlled foreign corporation" provisions and possibly consulting with a tax specialist before setting up any kind of corporation.

@alexstore06 Someone familiar with all involved tax codes should be consulted before creating any kind of corporation, as this might trigger CFC provisions (and possibly even less-overreaching PFIC provisions in non-US tax codes) with adverse reporting and tax results.

@kwellham Not every possible investment domiciled in the UK would be a PFIC. Single stocks, or interest from accounts or bonds (even though this is mostly a theoretical option in todays low-interest financial environment), or income from renting out property. The UK should have higher overall...

@charlesagrit Could it be possible that H&L is considered a "nonparticipating foreign financial institution" as far as FATCA is concerned? That would mean they and anything held in their accounts are subject to the blanket 30% withholding tax on any income from the US.

@kwellham However, capital gains, dividends and interest are not earned income and hence are not touched by the FEIE.

@seeking626 Yes. Not quite as catastrophic as PFIC treatment, but up to 45% tax instead of up to 20%. https://www.verfides.com/uk-taxation-of-reporting-and-non-reporting-funds/

@duzt What kind of visa would allow this? Tourist visa usually do not come with a work permit. Visas with a work permit, on the other hand, usually trigger tax residency. You appear to be looking for some kind of loophole that the other seven.x billion people on this planet have missed so...

@seeking626 If the US-based funds are not "HMRC reporting", then they will receive disadvantageous tax treatment by the UK.

@duzt So where exactly are you when performing the work activities? That is where the income will be sourced under most countries' sourcing rules and that is where the income will be taxed.

@catholic777 So you're chewing me out for something you wrote. This is getting absurd. I did not mention interest in the post you so vigorously objected to. I am still waiting for the correction. "You're wrong." is not a correction. And I am not getting a CPA involved to resolve a dispute...

@catholic777 I am not overly inclined to continue a discussion after snarky insults. Even though you edited the original one. You haven't even stated what exactly you consider wrong. The original posting you responded to did not mention interest specifically. What exactly do you mean?

@happywife1223 That is the number I have found. Evidently, the person needs to explicitly admit giving up US citizenship to avoid taxation for this to be happen. Is this webinar from the same party that will also provide the legal services for renounciation? If yes, I would consider the...

@catholic777 Am I? Interest in covered in Article 11. The savings clause is in the protocol part, starting on page 38. https://www.irs.gov/pub/irs-trty/germany.pdf Are there any parts of article 11 that are not invalidated by the savings clause?

@happywife1223 Two, between 2002 and 2015. And the decision cannot be based on "perception". The Reed amendment requires the purpose to be determined by the attorney general. Have you asked different lawyers for a quote? What is the 6k GBP number based on?

@catholic777 The most notable provision is the reduction of the US withholding tax on capital gains (/edit: dividends, not capital gains) for nonresidents from 30% to 15%. But this only applies to persons who are not US tax residents - as they are supposed to file US tax returns, no flat...