Letting the U.S Embassy know?

[qwertyko26]

Hi, im an American/Canadian citizen, was born and raised in America, but moved out to the Philippines for the past 7 years,
i plan on moving to Canada next month, to work.

Does anyone know how/if im suppose to inform the U.S embassy that i will be living in Canada?
what happens if i don't, and what happens if i do?

i tried searching but couldnt find a direct answer, hoping someone here is in the same situation or knows what im suppose to do.

Thank you!

 

[qwertyko26]

anyone?

 

[Leon]

You do not have to inform the US embassy where you live but as a US citizen, you are supposed to file your taxes in the US, even when you don't live there.

 

[ajslp]

Hi, im an American/Canadian citizen, was born and raised in America, but moved out to the Philippines for the past 7 years,
i plan on moving to Canada next month, to work.

Does anyone know how/if im suppose to inform the U.S embassy that i will be living in Canada?
what happens if i don't, and what happens if i do?

i tried searching but couldnt find a direct answer, hoping someone here is in the same situation or knows what im suppose to do.

Thank you!

You can register at US Embassy website.
http://canada.usembassy.gov/consular_services/citizen-registration.html

But there is no problem if you do not register. The registration is beneficial when you are in a war zone countries. The embassy will help you evacuate in emergency situation. It is also helpful to get consular access when you get arrested in foreign country. But since you are a dual Canadian citizen in Canada, US embassy may not provide consular help in case legal issues in Canada. You can verify it. So registering or not registering may not really affect in your case.

And as Leon mentioned it, you are required to file a tax return all your life no matter where you live. USA is the only country that has taxation based on citizenship(Green Card holder). Some people, mostly super rich, renounce their US citizenship to avoid filing tax return if they don't live in US anymore. You are allowed to exclude foreign income up to $95K.

 

[hoping75]

You are also required to give all bank account information for foreign accounts if the accounts total over 10,000 even if you are only an approved signer on the accounts, such as on accounts with your spouse, or a company you work for, etc. Even if the money is not yours. Also any insurance policies you may be part of, or any retiriment accounts you may have.

This is a big reason that even low income or no income people are renouncing their US citizenship, not just the rich. It is affecting the modest income people as much as the rich because it is really expensive and complicated to have their taxes done and keep track of all the rule changes. I have read many articles concerning this.

 

[qwertyko26]

Hmm so seeing as this is the first time i will be working (i just graduated here in the Philippines) i would have to file my taxes through america even though i am also a canadian citizen correct? just making sure i understood that part.


whats the downside/upside of filing my taxes through America? sorry im just new to all of this and dont have the help of my parents.

Filing your taxes is basically just calculating the amount of tax you have paid in a year right?

and as you mentioned that i am allowed to exclude income up to $95k, does that mean until i have earned 95,000 i wont have to pay taxes To America?

sorry if i sound very illiterate, just have to do this all by myself. Thank you again for the quick reply

 

[qwertyko26]

Yeah it does seem really frustrating and i haven't even had the time to do it.

so basically it looks like ill be putting out more money for taxes in my situation?
what the hell is the world coming to


is there a checklist or something i can download or copy to know the complete list of everything they'll want me to give them?

 

[scylla]

Hmm so seeing as this is the first time i will be working (i just graduated here in the Philippines) i would have to file my taxes through america even though i am also a canadian citizen correct? just making sure i understood that part.

Yes - you must file your American taxes if you are an American citizen - regardless of where you live. It's the law.

This doesn't necessarily mean that you have to PAY additional taxes (based on the information you've provided you probably won't). But you do have to file.

 

[qwertyko26]

oh Okay, thank you. Will do, was just reading through some stories about double taxes and stuff got kind of worried
so i guess i may just go with hiring someone to do it.

 

[ajslp]

In addition, US government has recently passed a bill where the foreign banks and financial organization are required to provide the financial details of a US citizen to IRS. Currently foreign banks are refusing to comply with that requirements as it is too expensive and burdensome. For now, US government has delayed its implementation. A lot of foreign financial institutions are considering refusing US citizens banking services in order to avoid hassle dealing with IRS requirements.

If you are not making six-figure income or more, you don't necessarily have to pay more taxes. It is the hassle of doing all the paperwork.