Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [citizenship]

34 questions
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I guess I'm American (by birth). I'm Canadian... my investment company is asking an impossible question. I don't have an SSN, what to do? Lie?

When I was born (1976) they did not automatically assign SSNs to kids (according to my mother). I guess that's not the case now. I only lived there for a few years and I gather I am a US citizen by birth. I don't wish to renounce that fact, in…
bcsteeve
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What happens with a 401k when changing citizenship?

I am in the process of changing citizenship from the U.S. to Norway. When I told my financial advisor about this he said I would have to close my 401k account there but he didn't really offer any advice on what to do with it. Is this correct that a…
Chrome2222
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When do dual citizens (Canadian & American citizenship) need to file U.S. income taxes?

I'm a Canadian-US dual citizen (born in the US to Canadian parents) but I've lived in Canada my whole life (aside from the first 3 weeks). I've never had an American passport or a SSN. I've never filed a tax return in the US, or really done…
Eclipse
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Is there any tax difference between a US citizen and a US lawful permanent resident?

Is there any tax difference between a US citizen and a US lawful permanent resident? I'm trying to understand whether the tax burden on a US citizen is the same as on a US lawful permanent resident. If that matters (e.g., for tax treaties), the US…
Franck Dernoncourt
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Should a nonresident US citizen get SSN

I am married to a woman who holds dual citizenship for both the US and Israel where we actually live. Our entire life is in Israel with no assets in the US at all (later on I will buy some American shares, as I want to invest in some S&P ETFs). She…
CodeMonkey
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Why would a bank refuse to open a bank account?

About 4 years ago, I try to open a bank account for my wife and they refused to open an account after they ran her passport. I asked the manager lady why, but she wouldn't tell me why or she refused to even give me a hint. I try to take peek at her…
ThN
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Born in the U.S.A., but I have no SSN & I live in Canada. Must I file a U.S. income tax return each year?

I was told when I applied for my U.S. passport years ago that as long as I had never worked in the United States and did not have a SSN, then I did not have to file taxes. This is what the U.S. Consulate told me at the time. I am now hearing that…
nrom
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What taxes does an Eritrean-American-Canadian citizen Canadian resident pay first?

I am a Canadian born to an American-born Canadian father and an Eritrean mother. We live in Canada, where I was born. I am a citizen of all three countries mentioned. Because of insane laws, I am still required to pay taxes in the countries I don't…
rashpinducknam
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U.S. sanctions against citizens from countries under U.S. sanctions

Preface: It is a known fact that because of Russia taking over Crimea, Iran with their nuclear program and North Korea with their crazy missile plans, the United States Government has placed several rounds of sanctions on those countries. I do…
Tired Of Trading
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Do I need to pay taxes as a dual citizen if I have income both from the US and abroad?

I'm a Hungarian-US dual citizen (born in the US to Hungarian parents) but I've lived outside the U.S. for most of my life. I have an American passport and SSN. I've never filed a tax return in the US, as I am filing and paying taxes in Hungary. It…
Wuher
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What's the tl;dr investing rules for married Canadian citizens when one partner happens to have US citizenship?

Canadians with US citizenship have several things to consider regarding investments: Canada's Tax-Free Savings Account (TFSA) is not considered tax free by IRS, and filing taxes may significantly harm the gain. PFIC taxation applies for purchasing…
shorea2
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Tax consequences (future or present) of giving up US citizenship

I am a Norwegian citizen by birth, and have lived here all my life. Some years ago, I learned that I am - by virtue of a US parent - also a citizen of the latter country. The amusement of learning that fact quickly gave way to a horror story of…
a5f2ef5d
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Will U.S. citizenship boost credit score?

I have a good friend in USA who is a permanent resident and is married to a US citizen. They have only one income (although his income is a bit over $100K per year) and his wife (who is the citizen) has not had any income for over a decade. She also…
user100487
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How did the IRS know that Boris Johnson sold his house?

According to several articles, Boris Johnson, the British foreign minister who was born in the U.S., was hounded by the IRS for taxes on the sale of his house in the U.K. For example here:…
CodyBugstein
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Bank refuses to allow withdrawal due to ID/citizenship issues

My sister has a bank account--and a passbook as proof of that bank account, in China. She opened that bank account as a Chinese citizen with a Chinese ID, and it currently has approximately $35, 000 in it. She became a Canadian citizen, and her…
user2213307
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