Expatriation generates a "reporting" frenzy! Report Early! Report Often! Report Everything! But, who is required to report what and to whom? What is the statutory basis for the reporting? What about Green Card holders? https://t.co/dAH1ihnpi7
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) February 1, 2023
The American Expat Financial News Journal reliably reports information about the “Name and Shame List”. The report generally includes information about the number of people on the list and people who are reported more than once. The report often attempts to determine whether those on the list are citizenship relinquishers or green card abandoners.
The purpose of this brief post is to explain the statutory basis for the reporting obligations, identify the relevant statutes and clarify some common misconceptions.
A summary of the analysis is that:
1. All individuals renouncing (whether “covered expatriates” or not) US citizenship during the relevant period are to be included on the “Name and Shame List”.
2. Green Card holders that are “long term” residents” are required to be included on the list
It is common knowledge that the lists contain many inaccuracies on the list.
Which statutes are relevant to determining the reporting obligations?
IRC 6039G – https://www.law.cornell.edu/uscode/text/26/6039G
IRC 877 – https://www.law.cornell.edu/uscode/text/26/877
IRC 877A – https://www.law.cornell.edu/uscode/text/26/877A