Proposed rule published in the CFR yesterday on 10/02/2023 to bring the cost of renunciation of U.S. citizenship down to $450 again. 👇
Cheaper is always better but I wonder how many people will actually be moved to renounce based on the fee reduction from $2,350 to $450.
I suppose time will tell. 🤷♂️
Comments on the proposed rule
are open until November 1st, 2023.
“In the years since the fee was increased, members of the public have continued to raise concerns about the cost of the fee and the impact of the fee on their ability to renounce their citizenship. While there is no legal requirement for individuals to declare their motivation for renouncing U.S. citizenship, anecdotal evidence suggests that difficulties due at least in part to stricter financial reporting requirements imposed by the Foreign Account Tax Compliance Act (FATCA), Public Law 111–147, on foreign financial institutions with whom U.S. nationals have an account or accounts may well be a factor.”
#UScitizenship #citizenshiprenunciation
https://www.federalregister.gov/documents/2023/10/02/2023-21559/schedule-of-fees-for-consular-services-administrative-processing-of-request-for-certificate-of-loss
PMF / Parviz Malakouti-Fitzgerald
npub1lv…ks38g
2023-10-03 20:31:35
Author Public Key
npub1lvvha99768rxcn8v2z7987n3ssraqv4ulhqnzc32pl4ggr6fwcuq0ks38gPublished at
2023-10-03 20:31:35Event JSON
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"content": "Proposed rule published in the CFR yesterday on 10/02/2023 to bring the cost of renunciation of U.S. citizenship down to $450 again. 👇\n\nCheaper is always better but I wonder how many people will actually be moved to renounce based on the fee reduction from $2,350 to $450. \n\nI suppose time will tell. 🤷♂️ \n\nComments on the proposed rule\nare open until November 1st, 2023. \n\n“In the years since the fee was increased, members of the public have continued to raise concerns about the cost of the fee and the impact of the fee on their ability to renounce their citizenship. While there is no legal requirement for individuals to declare their motivation for renouncing U.S. citizenship, anecdotal evidence suggests that difficulties due at least in part to stricter financial reporting requirements imposed by the Foreign Account Tax Compliance Act (FATCA), Public Law 111–147, on foreign financial institutions with whom U.S. nationals have an account or accounts may well be a factor.”\n\n#UScitizenship #citizenshiprenunciation\n\nhttps://www.federalregister.gov/documents/2023/10/02/2023-21559/schedule-of-fees-for-consular-services-administrative-processing-of-request-for-certificate-of-loss",
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