The State Department has slashed by about 80% the fee for Americans to formally renounce their U.S. citizenship.

The State Department has slashed by about 80% the fee for Americans to formally renounce their U.S. citizenship.

After years of legal battles with several groups representing Americans wanting to give up their citizenship, the department on Friday published a final rule in the Federal Register that reduces the cost from $2,350 to $450.

The new fee, which took effect on Friday, had been promised in 2023 but had never been implemented. The cost is now the same as it was when the State Department first started charging Americans to formally renounce their citizenship in 2010.

  • plyth@feddit.orgEnglish
    1·
    2 days ago

    What’s the share of wealthy Americans who have renounced their citizenship?

    Since 2020, 21,027 wealthy Americans have officially exited the U.S. tax system, accounting for nearly 39% of all expatriations recorded by the IRS since 1996.

    IRS Expatriation List only reflects “covered expatriates,” defined as those with a net worth over $2M or who paid $178K+ annually in taxes over the last five years.

    This makes it about 50,000 since 2020 who had to pay extra. How many have renounced overall?

    https://www.savoryandpartners.com/news/american-millionaire-citizenship-renunciations

    Since 1998, the Federal Bureau of Investigation has also maintained its own list of people who have renounced citizenship under 8 U.S.C. § 1481(a)(5), as this is one of the categories of people prohibited from purchasing firearms under the Gun Control Act of 1968 and who must be entered into the National Instant Criminal Background Check System (NICS) under the Brady Handgun Violence Prevention Act of 1993

    The list of all renouncements:

    https://en.wikipedia.org/wiki/Quarterly_Publication_of_Individuals_Who_Have_Chosen_to_Expatriate

    However, in 2013, the number of records of renunciants added to NICS again exceeded the number of names published in the Federal Register expatriate list, with 3,128 renunciants in the former against only 3,000 losing citizenship or permanent residence by any means in the latter.[2