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ARTICLE · 24 JULY 2017

The "Super" Reason Australians Are Renouncing Their US Citizenship

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US citizens living in Australia, and around the world, are finding themselves facing the very difficult decision to keep or renounce their US citizenship.

United StatesImmigration
Alexander Marino
Alexander Marino
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US citizens living in Australia, and around the world, are finding themselves facing the very difficult decision to keep or renounce their US citizenship. A decade ago, the idea of renouncing one's US citizenship was, for most, unthinkable. Fast-forward 10 years and wait times to book renunciation appointments at US consulates and embassies worldwide have exploded, with record numbers of quarterly and annual departures documented. 1 So why is this article dialed in on our Aussie friends when US renunciation appears to be a global movement? The reason is Australia's popular retirement vehicle known as a Superannuation fund (commonly referred to as a "Super"), something that can have negative cross-border US tax implications. The Super problem for US citizens in Australia is fueling a heighted desire to give up US citizenship.

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