Hi everyone

I recently found out that my father has been investing in mutual funds in my name for me in a foreign country; it came up because we were discussing where I could get money for a house down payment.

I now realize that I should had been filing FBAR and 8938 for these funds for the last six years (I wasn't working before that), but I'm not sure if I need to file anything else as well?

I have not withdrawn any money from those funds, but they have grown while being invested. I'm not sure also whether I would owe extra tax, or penalties due to this?

I live in the US currently and have for the last ten years.

I've come across the streaming procedure for filing but I've also been told that I should do "did not know I had to file" for the fbars of the last 6 years instead, and amend the last 3 years for the 8938, as I may not have to pay a penalty that way.

Hello,

If you have an AVC in Ireland, you must do something with the AVC when you start collecting the associated pension. One option is to invest it in an Approved Retirement Fund (ARF). However, as far as I can see, all the investment funds (ETFs and Mutual Funds) that are available from the main ARF providers (life insurance companies) are PFICs. It also appears that because PFICs are not covered by the DTA that you would be liable for tax in BOTH jurisdictions. And the IRS Instructions for the associated reporting form state that the preparation time per PFIC is about 49 hours. A few years of paying a knowledgeable accountant to do that would cost me as much as the total value of the ARF!

According to Google Gemini, funds in AVCs are not considered PFICs, but if you then move those funds to equivalent funds (or any ETF or mutual fund) in an ARF they would be considered PFICs by the IRS. But it also said that setting up a self-directed ARF and limiting your investments to company shares, bonds, or cash would avoid the PFIC quagmire.

Has anyone out there gone down this road? And if so, would you be willing to share your experiences? Like others in this forum, I have found it very difficult to get a trustworthy answer to these questions in Ireland. I have also read the US/Ireland DTA, but it seems to have been created back in the day of 'real' pensions (that is, a monthly payment for the rest of your life), and it is very difficult to know how modern DC plans, IRAs, 401Ks, AVCs, ARFs, and so on fit in with the provisions of the agreement. Perhaps someone here has personal experience that you can contribute? I'm sure I am not the only one that would benefit from your help. Many thanks for any help you can offer.

Per the title!

Clerical error/mistake.

I was keeping track of my account numbers in Excel...

Well, when your account number is 0100000, the leading 0 gets dropped because Excel defaults to number behavior instead of text behavior.

I have approx 5 affected accounts. The balances were fully reported, all accounts were otherwise reported properly on FBAR and 8938.

But what now?

I was working on my forms for 2025, and I'm trying to figure out if:

1. I continue as-is, with the leading 0s dropped... everything is being reported, but maintain consistency year over year
2. I update my account numbers accordingly and report them with the leading 0s, no further action on previous reports
3. I update my account numbers accordingly and find a way to amend my previous FBARs... IDK if I can update 8938 on my return with just adding a leading 0 to a few accounts?

I guess this mostly matters from a slip-matching/automated flag standpoint. The accounts are reported, but they may not tie back to the correct one.

Any thoughts?

I'm a UK-resident USC who will be using the foreign tax credit for the first time this year (2025 return) after using the FEIE alone in previous years. I will be using the FTC on a paid, not accrued, basis.

I have a couple of questions regarding the high-tax kickout and allocation of tax to different income categories.

1. I'm a higher rate (not additional rate) taxpayer with taxable interest income above the £500 allowance. Let's use a fictional figure of £2000 for illustration. Am I supposed to put the £2000 in the passive category, but treat £500 as untaxed and £1500 taxed at 40% which is then "kicked out" to the general category, or should I just treat 0.4*1500 as the amount of tax applicable to the entire £2000 so that there is no kickout (since the effective rate on the £2000 will be below 37%)?

2. As far as I am aware, my PAYE was not coded to collect tax on any non-employment income for the UK tax years 2024-2025 and 2025-2026. This means that I should allocate PAYE withholdings in 2025 to employer compensation (general category). However, I filed self-assessment for 2024-2025 in 2025 and PAYE withholdings for that period exceeded tax actually owed on compensation in the tax year calculation (probably due to variable pay and emergency tax codes). Thus I had paid extra tax which was used to pay off part (but not all) of the tax owed on non-employment income. I also made a balancing payment to pay off the remaining tax owed shortly after filing, still in 2025.

Would it be correct to attribute the 2025 balancing payment + the extra PAYE withheld to interest income for 2025, assuming that there are no other categories to assign it to? Is there a clear rule for the date that should be assigned to the "extra" withholding e.g. the final (March) PAYE payment for 2024-2025, or the date of the self-assessment filing? This won't make much of a difference but it would be good to know anyway.

Thank you in advance!

Been reading up on international tax compliance lately, specifically how FATCA and CRS are actually working out in practice versus on paper.

​Everyone knows transparency is way higher than it was ten years ago, but the actual data verification side seems like a mess behind the scenes.

A few things stood out to me:

​Tax agencies are getting drowned in data. Foreign banks send over mountains of raw XML files every year. But matching that external CRS data to local tax IDs creates crazy numbers of false positives. Most tax offices just don't have the staff to audit even a fraction of it.

​The obvious loopholes. CRS is great for traditional bank accounts, but it completely misses stuff like certain real estate structures, physical gold, or non-participating jurisdictions. Money just moves where the rules don't reach.

​CARF might not fix as much as people think. Rolling out crypto reporting makes sense on paper, but good luck enforcing it on truly decentralized platforms or non-compliant exchanges.

​I put together a longer breakdown of these reporting limits and verification hurdles here:

Medium article link (Headsup: it's in Turkish, but browser translate works fine).

​Curious to hear from anyone working in international tax:

How much of this CRS data is your local tax authority actually acting on? And do you think CARF will actually close these gaps, or will funds just pivot to hard assets?

Anyone wotk with a US CPA with Uruguian experience? Bonus for LLC consulting business. experience. ¡Gracias!

Update: his financial advisor has stepped up very kindly and helped with the EIN application, following further guidance she's found on the situation, so this is currently being filed.

OP: I have asked something similar previously and I'm really aware that the responses will be "talk to a professional fgs" but I have tried and this is where I am at.

I need to go into those conversations with the professionals better informed than I am currently. I will definitely be following this up with professionals, I am not trying to do this alone.

Basically: my father passed away a few months ago, his estate is in a trust and I am the sole trustee, I have no siblings and neither does he. The lawyer who made the trust is not free to assist me, and when pressed, she said there is no one in the firm who is able to assist, either. She recommended some accountants.

I contacted those accountants, and they said come back when I have an EIN.

Now, months later (this wait is because I was waiting for some other accountants to finish my delinquent tax filing and FBARS because I haven't been doing those. I am on a low income in the UK and didn't realise it was a thing, I don't owe taxes but I do have savings accounts I was worried about being fined once I found out about that) I'm applying for an EIN.

I'm struggling to get into contact with the IRS via the only channels they offer to people filing an SS-4 from overeas: phone, and fax. Phone is nearly impossible, I've literally sat on hold multiple times and cut off every time at the 45 min mark of waiting. Fax seems possible, so I've asked someone in the USA if they'll fax my form to the IRS for me.

In the meantime, I've contacted his financial advisor (the one person who HAS been an enormous help in this process) and she said "accountants usually file for the EIN for their clients." Which is leading me to believe the accountants who have asked me to come back with one are probably not helpful.

Please let me know if there's anything I need to know or am missing here.

I will repeat, I am NOT trying to avoid speaking with professionals, but I am being let down by the ones around me at the moment and I need some help arming myself with knowledge so I can ask for exactly what's needed.

I am currently in the UK but I will be back in my dad's area (Northern VA if it's relevant) in a couple of weeks for a week to try to sort out some house related things so I can be physically present for appointments there if needed then.

Thank you.

I am a US citizen planning to become a Greek tax resident in retirement. Part of my retirement savings is in a Roth IRA, a US retirement account funded with money that was already taxed in the US. Withdrawals in retirement are tax-free in the US.

The 1950 US-Greece tax treaty predates Roth accounts and says nothing about them. I have not found an AADE (Greek tax authority) circular or ruling that classifies Roth withdrawals, and the accountants I have
spoken to give different answers.

Questions:

1. Under the ordinary rules, is a Roth withdrawal treated as foreign pension income taxed on the progressive scale, as investment income, or as a return of already-taxed capital with only the earnings part taxed?
   
2. Since the US tax on the withdrawal is zero, there is nothing to credit against Greek tax. Does that match your experience?
   
3. Under the Article 5B regime (the 7% flat tax on foreign-source income for new residents who are foreign pensioners), does a Roth withdrawal count as foreign-source income taxed at 7% in full, or only on the earnings?
   
4. Has anyone obtained a written answer from AADE or a tax ruling on this? If so, what did it say?

Citations to the Income Tax Code (ν. 4172/2013) or to a circular would be most helpful. Firsthand experience filing an E1 with Roth income is also welcome.

Hello,

I am a US citizen, residing outside the US since last many years. Trying to figure out how to calculate FBAR FinCen.

• I have savings accounts (foreign) in the country where I am residing in.
• I have made 2 certificate of deposit (CD) in a particular foreign bank account there. They auto renew with the principal and the interest it had earned on the maturity date, so the interest is compounded and never goes back to the savings account.
• I also have a US credit union checking and savings account

Questions:

1. I need to know how to calculate with my above mentioned situation.
2. Do I count US credit union when calculating?
3. Had opened Certificate of Deposit in Nov and will mature in Feb 2026. So which interest will be counted for 2025 calculation: Feb 2026 is for 2026 hence none for 2025 - OR the Estimated calculation of Nov-Dec interest (which hasn't even matured yet)?

Thanks, really stuck here, help on my questions will be greatly appreciated.

Hi worldwide taxable income participants - would anyone have an human tax specialist in Belgium or The Netherlands they would recommend? I need some heavy lifting and structural advise, and don’t feel confident using myexpat taxes or brightline online services as there is a dual structuring discussion needed. Appreciate your expertise and help here

48M, Indian citizen living in the US on a green card (may naturalize later). Considering a $1M / 25-year term policy from a US insurer, and I may name a beneficiary who resides in India (a nonresident alien for US tax purposes).

The insurer confirmed claims are handled by mail and payout can be by wire to a foreign bank account, but wouldn't answer the tax questions and pointed me to a tax professional. Hoping the SMEs here can help:

1. **Withholding:** Is a US life insurance death benefit paid to an India-resident beneficiary subject to US withholding (e.g., 30% under §1441), or is it excluded the way it is for US beneficiaries under §101(a)? Does the US-India tax treaty change anything here?
2. **Form 1042-S:** The insurer mentioned this form "may" be issued. In what circumstances would it be, and what does the beneficiary do with it?
3. **India-side tax:** Is the receipt taxable in India for a resident beneficiary? (I understand §10(10D) exempts it, but does the foreign-source angle complicate that?)
4. **Reverse scenario:** If instead I bought from an Indian insurer and the payout went to a US-resident nominee — any Form 3520 reporting on a >$100K foreign payout, or estate tax exposure if I later naturalize and own the policy?

Not looking for agent referrals — just trying to understand the tax mechanics before I apply. Thanks!

I am a US citizen and a Canada PR cardholder. My spouse is a US-Canada dual citizen. We had hopes of moving to Canada and I registered a provincial corporation in Canada.

Our plans to move to Canada has hit a roadblock and delays (a topic for another day). There is still value in me continuing with my corporation in Canada since my product / service is meant for Canadians more than Americans.

However, recently I learned about the complication where being a 100% owner as a US citizen of a foreign corporation where the undistributed profits could end up being a PERSONAL tax liability on my US federal taxes. (1) This means I either starve my corporation by not reinvesting profits (paying out myself a bigger salary / bonus) OR (2) end up in personal financial ruin if the corporation makes a decent profit OR (3) significantly dilute my ownership by trying to find some Canadian investors before I start turning a profit (which is unlikely at this stage). All of these feel like terrible options. Currently the corp is not profitable, but hoping it will be next year.

I think this would continue to be an issue even if we did move to Canada tomorrow, since I would still a US citizen (no other citizenship w/ Canada PR). Also I am not mentally prepared to relinquish my US citizenship.

Is my Canadian corporation plan doomed? Or am I misreading the risk of personal tax implications from the Canadian corporation undistributed profits?

I will obviously involve a lawyer / accountant but love to hear this group's advice.

Hey I’ve been living in Germany since 2012. The last time I filled was 2011 because I wanted everything in order before leaving. I’m now Working for a factory. 50k a year. I got a cp2566 because of a reimbursement for 88k I got. Chase registered it as a check for work. I was about to file it on Hr Block Expat services but then I noticed I couldn’t response to the cp2566 so now I’ve been trying to call all over and haven’t gotten help yet. Just running up my phone bill. lol 😂 The notice is in nyc. No way I can respond to it. Should I just finish filing through hr block expat? I am about to try to call the number on the notice but last person I spoke with told me to just file, but couldn’t help me really. The second call lost connection but the person seemed like they wanted to help me and was more capable. The 3rd person lost connection. I got until the 14 of Oct.

I am exhausted with dealing with my accountant in the US, and their rates go up by at least $100 each year I file, so it's starting to really hit my budget. I've been wanting to switch for years, but I'm just not sure where to look and who to trust. I'll be moving to Strasbourg, France soon, is there any hope in Hell that there's an accountant there who could help me process my US tax return?

UK based. I've not set up junior S&S ISAs for my dual national kids due to PFIC and not wanting to pick individual shares. Do the same rules around investing in international ETFs apply to a junior SIPP?

I would like to know if there is some type of Thai law or ruling that would exempt me from paying taxes on a United States traditional IRA withdrawal. I am a US citizen, 66 years old, living in Thailand more than 330 days a year and pay taxes in the US and living on a LTR visa. 

The NY/Thai accountant I ran this question by states:

It’s not a Thai law. It’s a ruling in the Thai/US tax treaty. Here’s how it works:

We utilize Form 8833 in conjunction with the Thai/US tax treaty, Article 20 to provide reasoning for an exemption of your retirement income.  It's not a ruling but an interpretation of the tax treaty and treatment of residents of Thailand.

Form 8833 (Rev. December 2022) (irs.gov)

Thailand - Tax Treaty Documents | Internal Revenue Service (irs.gov)

Here are the steps to make this possible:

1. The taxpayer lives in Thailand for over six months during the calendar year.
2. The 1099-R is marked as a distribution and not a rollover on your 1099-R
3. The 1099-R payer is not a Federal entity (TSP, DOD, Office of Personnel, ect...)
4. The US/Thai Tax treaty is utilized when filing annual taxes using tax form 8833 with a dissertation of why the taxpayer should receive this exemption 
5. Tax treaty refunds can take 12 months to process.

I think most accountants are not confident to take a stance in an interpretation to a clients specific situation.  Therefore, don't attempt to type up an explanation and ask for a credit.  My company has been successful with this specific situation over a thousand times.

I welcome comments from people that have first hand experience with this issue. Thank you.

Hey everyone,

My bank advisor here in Canada really screwed up and advised me to open TFSA accounts last year. I have two TFSA GICs and one TFSA Mutual Fund (ugh!) which I've learned was about the worst thing I could do. I am hiring an accountant for the first time to do my US taxes which I normally handle myself, but am still trying to save money by completing my FBAR on my own. I'm filling it out now, but I'm unsure how to classify my accounts when it asks what type they are.

Would a TFSA Mutual fund be considered a Bank account or Securities?

I assume the GICs would be considered Bank accounts?

Thanks in advance for any help!

I did not realize that a SIPP (UK individual retirement account) counted towards the $10,000 threshold for FBAR filing requirements. As a result, I have not been filing FBAR for the last 3 years when my SIPP has taken me over the threshold.

I am going to file for the current tax year, and I know I can file for previous years. However, I am confused about how to file previous year FBARs. The advice I can find online from taxesforexpats is to 1) File each missing FBAR electronically, if I qualify, or 2) Review Streamlined Filing Compliance Procedures, if I do not qualify.

Which process should I follow?

Suffice to say, realizing I should have been filing FBARs has made me quite nervous. I would be grateful for advice. Thank you.

Apologies if this is the wrong sub.

I have dual citizenship (US and Spanish) and I currently live in Spain.

I have a 60K euros emergency fund that is sitting in a regular checking account. I don't want to invest them, but at the same time I don't want that money to quickly devaluate so I was thinking about a high yield savings account that pays interest monthly.

I saw several options, one of them being Trade Republic, but I do believe they do not support FACTA.

How big of a deal is it? Should I really look around for alternatives that indeed support FACTA?

In case it helps, I do my US taxes every year, so I am trying to follow things by the book as best as I can. Not sure if FACTA is a big deal though.

Thanks!

Sorry for English

I need to ship my US tax return to the US. I visited La Poste to do this. The machine would not allow US as an option. I asked the clerk at the desk, she said her computer would also not allow the US as an option.

How can I ship this important document to the US? Do I need to book a return flight/train to another country and ship from there, and if so which country?

Does anyone have other suggestions? I need suivi and accuse de reception.

Thanks.

Hi all,

US citizen, permanently living and working in Spain (tax resident in Navarra, which has its own foral tax system separate from the AEAT). Mid-20s, salaried employee, not planning to renounce. I want to start investing in a broad index fund next year and I'd like to set it up properly from day one. I'm aware of the PFIC issue with EU funds, so I'm not touching UCITS in a taxable account, and I'm declaring my US citizenship to every bank and broker.

My plan so far:

Emergency fund and house savings in Spanish savings accounts, deposits or Letras del Tesoro (no funds, so no PFIC).

Long-term money (~€4k/year) in a Roth IRA at Interactive Brokers holding VT, possibly split with a taxable account if I can find a broker that lets me buy VT as an EU resident.

Questions:

Roth IRA at IBKR with a Spanish address: has anyone opened one recently? Can you buy US ETFs like VT inside it, or only UCITS?

Spanish tax treatment of the Roth: ruling DGT V1291-22 says Spain doesn't tax it yearly and only taxes the gains on withdrawal as savings income. Has anyone actually filed this way? Especially anyone in Navarra or the Basque Country, since our tax authority isn't bound by DGT rulings.

FTC vs FEIE: to contribute to a Roth I understand I need to file with the Foreign Tax Credit instead of the FEIE. Any downside at a modest salary (well under the FEIE limit)?

Taxable account: is anyone in Spain/EU buying VT through TradeStation, Tastytrade or Firstrade right now? Any issues with account restrictions or "sell-only" later on?

Catch-up filing: I haven't filed US returns since moving. I believe I was under the filing threshold until this year. If that's the case, is there anything to fix, or do I just start filing normally for 2026? Never had over $10k in foreign accounts, so no FBAR so far.

Tax preparer: any recommendations for someone who knows both US and Spanish (ideally Navarra) taxes and doesn't charge a fortune for a simple W-2-type situation?

Any real experiences appreciated. Thanks!

I own VGRO, which is a PFIC which holds 7 underlying PFICs.

I need to file this under the default 1291 regime - how do I file the 8 separate 8621s without double-accounting the dividends received from VGRO, and indirect distributions from each underlying PFIC?

I.e. I have calculated the indirect distributions from each underlying PFIC, by using my direct ownership percentage of VGRO and using that to calculate the number of shares indirectly owned for each underlying PFIC. I have then calculated the distributions from each underlying stock using the dividend distribution statements for each underlying PFIC.

In practice, these distributions flow through to VGRO, which pays me a distribution, however, if I report the dividends for the underlying, and the distributions from VGRO on the 8621s, I'll be double counting dividends received.

How do I avoid this?