Renunciation and Relinquishment of United States Citizenship: Discussion thread (Ask your questions) Part Two
Ask your questions about Renunciation and Relinquishment of United States Citizenship and Certificates of Loss of Nationality.
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NB: This discussion is a continuation of an older discussion that became too large for our software to handle well. See Renunciation and Relinquishment of United States Citizenship: Discussion thread (Ask your questions) Part One
@Portland PLC and Wiley,
Just a note- anyone figuring out their pension details for doing the final IRS filing should be able to contact their pension provider and obtain clear/detailed documentation about exactly how much he/she contributed each year (or each month). This information should cover the entire time of your involvement with that pension plan, even if you took years off in the middle. Don’t forget about any ‘buy back” opportunities that you may have taken advantage of at any time over these years once your pension was vested. It may take several times on the phone and in writing but just explain to the pension customer service people that this is needed for documentation to the US now that you are (or have) renouncing/renounced your citizenship (let them have an OMG moment with you; you won’t feel quite so bad asking them to do this work on behalf of you, well really for the IRS).
Re: OMG moments for the companies for which we worked…
The company for which I worked and from which I have a defined benefit pension did provide just that for me, LM. When I contacted them, one of the biggest Canadian oil & gas companies and back several years ago now, mine was the first such query they got. It took some time but they finally provided what I needed for my 8854. I wonder how many queries they’ve received since mine.
Wow, I can’t thank you enough for all this detailed information! As soon as I’ve recovered from all the Easter festivities, I’ll take a closer look and, hopefully, complete and mail the final forms. That will be a huge relief! Thanks to everyone for your time and generosity.
Wyley
Hi,
Has anyone looked into the benefits of remaining American, such as Child benefits?
i.e are you able to combine the various child benefits of Canada with the American ones and would you come out ahead after doing taxes? that would be the Universal child care benefit (UCCB) in Canada which is going to rise in value, and in the U.S you get something like a $1000 tax credit.
I am guessing its totally not worth it considering you will pay other things.
Another question,
Has anyone found out whether they contact the Canadian government to verify your official documents?
I have seen that some people scan their docs and send them to the Consulate by email.
How do they verify the docs and dates?
They don’t contact the Cdn government as far as I know. I don’t recall seeing anything about that in the procedure manuals either.
Some consulates have you send scans in in advance so they can prepare your file, but they all require you bring original docs to your consulate meeting.
@CaptainCanuck
FWIW, my understanding is that in order to get that $1000 USD tax credit, your child has to be a US citizen. That may or may not make a difference depending on whether the child is already recognized as a USC.
Thanks again for this detailed help on 8854, part V #7. I’ve managed to come up with a figure for column A by adapting your example. But I’m not sure what to put in column B (U.S. adjusted basis).
Also (a different question): in Part IV, Sect. A (Expatriation information): I’m not sure what to enter as my tax liability for these five years. Under U.S.-Canadian tax agreements, I never made enough to actually pay anything to the U.S. government. So, logically, it would seem that I should enter “0” for each of these years. Or should I convert my total Canadian income for each of these years to U.S. dollars and enter those amounts?
This is one exercise I’ll be happy to finish!!
@ Wyley
Do NOT put your income in those 5 slots. It’s U.S. tax owed/paid they are looking for … that would be 0, 0, 0, 0 and 0.
Thanks so much. That’s what I thought – all zeroes.
In my earlier post, I asked how to fill in column B in Part V, #7 (U.S. adjusted base). I just reread the detailed explanation about calculating column A and saw a note indicating that column B is for my total contributions. Sorry to have missed that! I will contact the Ont. Pension Board for that information.
Thanks again!!
LM, Wyley and all,
I’m having a serious daily panic attack on how to start form 8854! Like you LM, I relinquished July 2014, have my CLN and must have in by June 15th. I’m terrified of this form. I just go round and round on where to start. I have the instructions and form printed out to read, but I just don’t understand parts. I need someone to offer step by step guidance and someone to answer my questions. Would anyone be willing to advise me on parts IV and V by email or phone? I would gladly pay you or even donate again directly to FATCA lawsuit. Life will not begin till I get this done and file my last form to IRS. I’m in Ontario. Anyone? Thanks anyway.
Swanee Happy to try and help. Mods please give my email to Swanee
Swanee, wish I could offer some help but I’m in the same boat.
Good luck.
Wyley
Duke of Devon thank you so much! I’ll wait for your email.
Swanee, as requested, I sent to you Duke’s email information.
@ Swanee,
I renounced in mid-April (tax-day, actually!); I think it was Wyley who was in July.
Anyway, Hubby the tax-guru says he is willing to answer questions by email (& maybe phone if needed later). Calgary411, you can send my email to Swanee and I will forward on to Hubby (who has just about finished all my final US tax forms – HOORAY!!!!!).
Lets all work together to get this Brocker OUT!!!!!
Actually, my renunciation was on January 14, 2014. Do you think your husband would take a few questions from me, too? Thanks in advance.
Wyley
@ Wiley,
I think he would balk. He’s still active in his career so can’t spend a lot of time on outreach, tho probably willing to help one person at a time – – and you already got some good detailed answers.
At this point I suggest you put your current questions out to IBS and see what comes back. Sorry, but I know his limits…….
I understand. Thanks anyway. I’ll just post my questions to the forum in general.
LM, Calgary 411, Duke of Devon, you guys are something else. I’m overwhelmed with the support. I felt so alone not knowing how to begin. I’ve spoken to Calgary 411 and emailed DOD, so appreciate your hubby’s help, if need be. Thank you, thank you, thank you.
Wyley, whatever I learn that could help I’ll pass on. I have to have it in by June 15th too. Tell Calgary411 to give you my email. We’ll get through this.
@ Swanee
This is Brockers at their best. I love to see those who are both willing and capable stepping in to help. Good luck getting it done … Wyley too.
This has nothing to do with renunciation. Many Brockers intend to never set foot in the US again, so here’s something for those who do to consider:
http://motherboard.vice.com/read/you-have-no-right-to-electronic-privacy-when-you-cross-the-us-border
@ WhatAmI There was a case in the news recently about someone coming into Canada whose device was taken and they wanted the passwords. This is a border crossing issue even into Canada, everyone needs to rethink what they carry with them when traveling.
http://www.cbc.ca/news/alain-philippon-phone-password-case-powers-of-border-agents-and-police-differ-1.2983841
This is a question to those who have renounced, filed their 5 years of returns and 8854. Apologies if this question has been answered elsewhere. I’m cross-eyed from going through thousands of comments here.
The question is how likely is one to be subject to audit after filing the forms? Has anyone here experienced audit, challenges or questions from the IRS after renouncing and filing?
I gather that Petros was challenged over his 2010 filings, but I never saw the resolution to that.
This is important to my ongoing arguments with the Hubster regarding our forward strategy regarding tax and FBAR filing. There are some minor discrepancies which have not been challenged over numerous years of filing, and could stay that way if we remain under the radar, but could blow up badly in our faces in a thorough audit.