In the $2M net worth test (covered expatriate), "government-provided" retirement plan such as social security and foreign pension is not included, right?

Forum|Forum|1 year ago
August 27, 2024
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Also, in Form 8854 requires explanation of significant changes in assets in 5 years before expatriating; if I open/close bank accounts and ACH transfer among them, that is not "significant" right?

TurboTax Online

pk12_2

Employee

@_Aw_3_1 , can you tell me a little bit of your situation --- are you a GreenCard or a citizen expatriating ? When did you actually for expatriation ? Which country are you going to ? What forms have you filed, including your last 1040

Any information about the situation would help.

I will come back once I hear from you .

_Aw_3_1Author

I am a GreenCard holder expatriating in about 6 years. Going to Japan. Currently, I reside in US and am filing normal tax return based on W-2 from work. But my questions are about Form 8854 applicable to both US citizen and long term lawful resident, expatriating to any country.