[ Offshore Tax ] Preparing to Exit the US Tax System: Investment Account Considerations

[ Offshore Tax ] Preparing to Exit the US Tax System: Investment Account Considerations

The US Expatriation Tax Regime Exit Tax rules impose an income tax on certain people called “Covered Expatriates” who have exited the US tax system. The defining feature of the Exit Tax is that all worldwide appreciated assets are treated “as if” they are sold on the day before citizenship or resident status is terminated. If applicable, the net capital gain (after an exclusion amount of roughly $821,000 in 2023) from the deemed sale is taxed when the expatriate’s final US tax return for the year of expatriation is filed.
Additionally, there are other rules that accelerate income for a person leaving the United States. These rules apply to items such as IRAs, pensions, deferred compensation plans, and beneficial interests in trusts.

TIMESTAMPS:
0:00 INTRO
0:45 Exit taxes in USA
1:30 Investment Account Considerations
2:55 Outro



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