US Expat Tax Forms

Because the US taxes based on citizenship, all Americans, including expats, are required to file a federal tax return each year, reporting their worldwide income. Expats often also have to file additional IRS forms, to avoid double taxation.

IRS Tax Forms for Expats

Expats may also have to file IRS tax forms relating to any foreign bank and investment accounts they may have, as well as reporting their foreign financial assets and foreign registered businesses.

IRS Form 5472 – What US Expats Need to Know

IRS Form 5472 – What US Expats Need to Know

IRS form 5472 is a US filing requirement that affects some Americans living abroad who own or part-own corporations. Form 5472 must be filed by US-registered corporations that are 25% or more owned by a foreigner, and foreign corporations that trade in the US, that make any ‘reportable transactions’ during the filing period. A ‘reportable […]

Taxes for Expats – IRS Tax Forms for US Expats Explained

Taxes for Expats – IRS Tax Forms for US Expats Explained

Americans living abroad are still required to file US taxes and declare their worldwide income. They may also have to pay US taxes, regardless whether they are also paying foreign taxes, though most expats claim one or more of the IRS exclusions available to expats that reduce or eliminate their US tax liability. Claiming these […]

FBAR FinCEN Form 114 – Everything US Expats Need to Know

FBAR FinCEN Form 114 – Everything US Expats Need to Know

What is FinCEN form 114? The 1970 Bank Secrecy Act requires all Americans, including US expats, to report their foreign financial accounts if the total combined value of their balances is more than $10,000 at any time during a year. The reporting requirement is known as a Foreign Bank Account Report, or FBAR. For many […]

US Expat Taxes and FATCA – How to File Form 8938

US Expat Taxes and FATCA – How to File Form 8938

Under the 2010 Foreign Account Tax Compliance Act, also known as FATCA, Americans (including expats) with a certain value of foreign assets have to report them to the IRS each year by filing form 8938 along with their US income tax return. Who has to file? All Americans who are liable to file a US […]

Form 2555 – Everything Expats Need to Know

Form 2555 – Everything Expats Need to Know

Form 2555 and form 2555-EZ are used to claim the Foreign Earned Income Exclusion, and form 2555 the Foreign Housing Exclusion or Deduction too. The Foreign Earned Income Exclusion allows you to exclude up to around $100,000 (the figure rises a little each year) of foreign earned income from US federal income tax. Please note […]

Form 5471 – Everything US Expats Need to Know

Form 5471 – Everything US Expats Need to Know

What is it? Form 5471 is used for reporting foreign business activities that are owned or part owned by US taxpayers to the IRS. Who exactly has to file IRS form 5471? – US taxpayers who are a director or officer of a foreign corporation. – US taxpayers who own at least 10% of a […]

IRS Form 8833 – What Expats Need to Know

IRS Form 8833 – What Expats Need to Know

Living abroad is for some people a temporary endeavor while for others it is a lifetime adventure, however in all cases – while we’re still US citizens or green card holders – we are liable to pay US federal taxes, and in some cases, state taxes too. To help prevent double taxation, paying tax on […]

Form 8938 and FinCEN Form 114 – What Expats Need to Know

Form 8938 and FinCEN Form 114 – What Expats Need to Know

Many of our clients confess to some confusion (or lots!) about whether they have to complete Form 8938, FinCEN Form 114, or both, so we’d like to shed some light on the situation. What are they? IRS Form 8938 is required under the Foreign Account Tax Compliance Act or FATCA for reporting assets held abroad. […]