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ICYMI: US slashes fee to give up American citizenship

The United States will lower the fee for formally renouncing citizenship from $2,350 to $450 starting April 13.

This was disclosed in a notice announced by the US Federal Register on Friday.

The change comes after reviewing “anecdotal evidence regarding tax-related difficulties many U.S. nationals residing abroad encounter.”

This rollback restores the fee to its 2010 level, reversing the increase imposed in 2015.

The decision was welcomed by “Accidental Americans”—U.S. citizens living abroad who deal with complicated tax reporting rules under laws such as the Foreign Account Tax Compliance Act.

Under laws like FATCA, U.S. citizens are required to report detailed information about any foreign bank accounts on their annual tax returns.

The Paris-based non-profit Association of Accidental Americans praised the decision, calling it the “direct result” of their advocacy and legal efforts.

‘This fee reduction is a concrete first victory,” AAA founder and president, Fabien Lehagre, said in a statement on social media.