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ARTICLE · 21 MARCH 2017

What To Know Before Moving To Canada

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Recent data published by the IRS shows that, yet again, the number of US citizens expatriating continues to be on the rise

United StatesTax
Penelope Williams
Penelope Williams
Maya Ladno
Maya Ladno
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Recent data published by the IRS shows that, yet again, the number of US citizens expatriating continues to be on the rise.  More than 5,400 individuals relinquished their US citizenship in 2016, which is more than a 25% increase over the number of individuals relinquishing in 2015.  If the number of expatriations in 2017 continues to increase, it will be interesting to see (although perhaps difficult to quantify) whether these expatriations are motivated by reasons other than the complexity of the US tax system such as the growing political discord in the US.  Given this political tension and the increasing attractiveness of relocating to, for example, Canada, this is a good opportunity to revisit the expatriation procedure and a few material US tax considerations.  

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