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Moving to Florida at the end of the month - what to do with ISA's?

Moving to Florida at the end of the month - what to do with ISA's?

Old Jan 23rd 2024, 9:57 am
  #16  
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Default Re: Moving to Florida at the end of the month - what to do with ISA's?

Originally Posted by bluetone
Wow - finance and tax implications for moving to the US seem an absolute minefield 😬

It's great to see people being so generous with their knowledge on the forum 👏

Forum first post - looking at a move to Chicago in the Summer, and getting our ducks lined up ahead of time!
Absolutely - this advice (as I tried to find!) is not only extremely hard to find an explanation for, but would also cost you a small fortune to receive
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Old Jan 24th 2024, 3:14 pm
  #17  
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Default Re: Moving to Florida at the end of the month - what to do with ISA's?

Originally Posted by bluetone
Wow - finance and tax implications for moving to the US seem an absolute minefield 😬
Yeah and it's getting worse each year. When I moved here 30 years ago the world was a lot simpler. The first signs of trouble for me was the passage of the Foreign Account Tax Compliance Act (FATCA) in 2010. After that I had to start reporting my foreign pension assets and investing in overseas funds became a potential tax nightmare here. Governments started cooperating and coordinating their tax avoidance/evasion detection, anti-money laundering and anti-terrorist efforts which is a worthy goal, but the dragnet is spread so wide it catches all the innocent little fish like me and it's an effing PITA. That's on top of the problem which has always existed for US citizens - we are taxed by the US on most of our income wherever in the world we live. No escape by moving back to Blighty.
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