I'm here on a green card. If i leave the country, is there a departure tax on my investments and future capital gains?
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1 Replies
Vanessa A
Expert Alumni
Mar 5, 2025 1:41:47 PM
Possibly. How long have you been here? If you have been a resident of the United States for more than 10 years, then you would be considered a covered expatriate.
Your average annual net income tax for the 5 years ending before the date of expatriation or termination of residency is more than a specified amount that is adjusted for inflation ($162,000 for 2017, $165,000 for 2018, $168,000 for 2019, $171,000 for 2020, $172,000 for 2021, $178,000 for 2022, and $190,000 for 2023).
Your net worth is $2 million or more on the date of your expatriation or termination of residency.
You fail to certify on Form 8854 that you have complied with all U.S. federal tax obligations for the 5 years preceding the date of your expatriation or termination of residency.