Initial and Annual Expatriation Statement, Form 8854

Form 8854 is a crucial document for people giving up U.S. citizenship or ending long-term residency. It makes sure you follow tax rules and report important info under section 6039G. This form talks about recent changes, like higher income tax limits and adjustments to gains on property for covered expatriates.

General Instructions

• Purpose of Form 8854: Used by expatriates to certify tax compliance and fulfill initial and annual reporting under section 6039G.
• Applicability: Applies to U.S. citizens and long-term residents who expatriated after June 17, 2008.
• Transition Rules: Specific instructions for individuals who expatriated before June 17, 2008.

Who Must File?

• Initial Form 8854: Required if U.S. citizenship was relinquished or long-term residency terminated in 2023.
• Annual Form 8854: Required for expatriates before 2023 with deferred tax payment, eligible deferred compensation, or trust interests.