“Life planning, career planning and the reality of U.S. citizenship for Americans abroad”
“Everything I wish I had known, but couldn’t even have imagined to ask!”
During the winter, John Richardson presented a number of seminars for those concerned with the obvious problems of U.S. citizenship (including the “threshold question” of whether you really are a U.S. citizen).
Seminar topics have invariably included the problems of: FBAR, FATCA, investing, retirement planning, mutual funds, U.S. tax compliance, renunciation, etc.The official “FATCA Launch” of July 1, 2014 will surely make the existing problems worse.
U.S. citizens living outside the United States are subject to a regime of rules that diminish their “life opportunities”. These rules are such that U.S. citizens abroad live at a disadvantage relative to the citizens of any other nation. Those attending previous seminars have been primarily “middle aged” people, who have attempted to plan for their retirement, only to find that their retirement plans are threatened, because of their birth in the United States.
A shared sentiment has been:
“If only, I had known about these rules earlier … This is information that my children and other young adults need to hear! What does all this mean for my children?”