Leaving US and taking money

Forum|Forum|2 years ago
August 12, 2023
1 reply
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I'm asking for a friend. She's a green card holder leaving US forever, will wire transfer her savings over $80k to her polish bank account in Poland. Next year when it comes to filing taxes, does she have to fill out FBAR or 8938 forms that she had foreign bank account? She will open it after leaving US and the money comes from work, she paid taxes and saved. She will close US bank account once she transfers the money. She will file as a U. S resident for a whole year. Thank you

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Best answer by Critter-3

To ensure the departing person files their final tax return there are rules :

https://www.irs.gov/individuals/international-taxpayers/departing-alien-clearance-sailing-permit

pk_

Level 15

@Japtrupusz , US tax rules are the same for all US persons ( citizen / GreenCard) -- whether one is residing in the USA or abroad -- to maintain GreenCard valid one must enter US at least once a year ( unless dispensed by Immigration authorities). As a US person, one must still tax return, and comply with FBAR and FATCA regulations just as if one was living on mainland US or its territories.

Does this answer your query ? Is there more I can do for you ?

JaptrupuszAuthor

Level 2

Thank you for your answer. We are still confused. If somebody leaves US soon, abandons green card, I read they need to get sailing permit? I thought if we still have to file taxes next year, we don't need to let IRS about leaving?