US to start revoking passports of American expats with tax debts

The IRS is warning US expats with large tax debts that their passports are subject to be revoked as soon as this month, jeopardizing their ability to work and live overseas. The agency in July began sending letters to some indebted taxpayers saying it will ask the US State Department to revoke their passports. Under […]

The 3 things US expats should know when it comes to 401ks

Beacon Financial Education aims to help expats organise their personal finances and educate them on retirement plans, personal lifestyle planning and wealth management. Making the switch to live and work abroad is an exciting time in your life. To make your experience abroad smooth and successful – from a financial and personal standpoint – it’s[…..]

FATCA, PFICs, QEF Elections, and so much more in simple language!

Does FATCA affect you? If you’re an American, then you’ve probably heard of FATCA. FATCA stands for the Foreign Account Tax Compliance Act and became law in 2010. Many expats incorrectly believe that FATCA is the law that requires them to report and pay U.S. taxes on their income. This is not the case; expats[…..]

Americans Expats and U.S. Connected Persons Face Investment Challenges Across the Globe

Expats face unique financial challenges living outside their home country. Americans & U.S. connected persons face even tougher challenges with regard to their investments – many financial institutions in their new local country no longer allow U.S. connected persons to hold investment products and increasing numbers of U.S. financial institutions are closing brokerage accounts for[…..]