Do dual citizens have to file US taxes?

The most common question we hear is, “do U.S. dual citizens in Canada have to file U.S. taxes?” Yes, if you are a citizen or resident alien of the United States, you have a U.S. tax obligation, even if you’re a dual citizen of the U.S. and Canada.

How does dual citizenship work with taxes?

For individuals who are dual citizens of the U.S. and another country, the U.S. imposes taxes on its citizens for income earned anywhere in the world. If you are living in your country of dual residence that is not the U.S., you may owe taxes both to the U.S. government and to the country where the income was earned.

Why do banks ask about dual citizenship?

Many bank compliance officers feel obligated to ask customers about their country of citizenship, particularly in order to collect federally mandated information aimed at assessing potential risks associated with so-called “nonresident alien accounts.”

Do dual citizens have to file FBAR?

Dual citizens, along with all other “United States persons”, must file a Report of Foreign Bank Accounts, also known as an FBAR, if the aggregate value of their foreign financial accounts exceeds $10,000 at any time during the year.

Can you avoid taxes with dual citizenship?

The United States imposes taxes on citizens regardless of where they live and where they earn their income. Dual citizens who are living abroad may owe taxes to both the United States and the country in which they earn their income.

Why is Bank of America freezing accounts?

Bank of America may freeze your account for several reasons: account inactivity (meaning you have not used your account for an extended period of time); suspected fraudulent activity, such as excessive or irregular number of transactions; or a negative balance for an excessive length of time.

How do you know if you have dual citizenship?

Every country decides whom it considers to be a citizen. If more than one country recognizes you as a citizen, you have dual citizenship. You don’t apply for dual citizenship, and there is no related certificate.

Do dual citizens pay taxes in the US?

U.S. citizens that have dual citizenship in another country must file taxes in the United States. The United States imposes taxes on citizens regardless of where they live and where they earn their income. Dual citizens who are living abroad may owe taxes to both the United States and the country in which they earn their income.

How do I get dual citizenship in the United States?

Another way to obtain dual citizenship in the United States and another country is to become a naturalized United States citizen while maintaining citizenship status in another country.

What does dual citizenship mean under the Immigration and Nationality Act?

Dual Nationality. Section 101(a)(22) of the Immigration and Nationality Act (INA) states that “the term ‘national of the United States’ means (A) a citizen of the United States, or (B) a person who, though not a citizen of the United States, owes permanent allegiance to the United States.” Therefore, U.S. citizens are also U.S. nationals.

Who do I contact for questions about dual citizenship and taxes?

If you have any questions about dual citizenship and the US tax obligation you can contact Americans Overseas. Two dual nationals living abroad founded Americans Overseas.