The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/departing-the-usa-aka-sailing-permit-clearance-14299542.aspx

Subject:  Departing the USA: aka Sailing permit /clearance Date:  2/8/2001  4:03 AM
Author:  jumpinjupiter Number:  45943 of 121095

Has anybody gone through the mechanics of leaving the USA whether it be to to return to your home country or to move on elsewhere?

I am keen to learn what reckonning with the IRS you needed to go through with respect to the following containers of assets:-

1) 401(k) plan
2) ROTH IRA's & EIRA's (retirement and education varieties)
3) brokerage account
4) bank account
5) real estate (especialy if you held on to it for, say, future rental income)
6) any US-based small (or large) business you might have established while living state-side

Are there any complicated steps involved in transitioning from US-person to non US-person with respect to the IRS definitions of a US-person and especially wrt the treatment of your US-based and offshore income?

Note the perspective on this is one of a non-US citizen departing the USA after a period of permanent residency in the USA.

jumpinjupiter
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us