{
  "_meta": {
    "title": "US expat tax constants, verified",
    "canonical": "https://expatcpatax.com/facts.json",
    "human_readable": "https://expatcpatax.com/expat-tax-facts/",
    "publisher": "ExpatCPATax.com",
    "last_full_review": "2026-08-09",
    "last_changed": "2026-08-29",
    "note_on_2026": "The 2025 inflation-adjusted FBAR penalty amounts remain the current amounts for 2026 because the government's 2026 adjustment was canceled (OMB Memorandum M-26-11)."
  },
  "tax_year_2025": {
    "feie_cap_usd": 130000,
    "standard_deduction_single_usd": 15750,
    "standard_deduction_mfj_usd": 31500,
    "child_tax_credit_per_child_usd": 2200,
    "child_tax_credit_refundable_actc_usd": 1700,
    "self_employment_tax_rate": 0.153,
    "social_security_wage_base_usd": 176100,
    "filing_threshold_mfs_usd": 5,
    "filing_threshold_self_employment_usd": 400
  },
  "fbar": {
    "filing_threshold_usd": 10000,
    "filing_threshold_source": "31 U.S.C. §5314; 31 CFR 1010.350; $10,000 set by 31 CFR 1010.306(c)",
    "penalty_nonwillful_max_usd": 16536,
    "penalty_willful_max_floor_usd": 165353,
    "penalty_source": "31 CFR 1010.821 inflation adjustment, for penalties assessed on or after 2025-01-17; FinCEN. Cited to the Federal Register notice text (90 FR, doc 2025-01374) rather than an irs.gov summary page, because irs.gov blocks automated fetches and the notice IS the instrument that sets the amounts."
  },
  "form_8938_thresholds_abroad": {
    "single_year_end_usd": 200000,
    "single_any_time_usd": 300000,
    "mfj_year_end_usd": 400000,
    "mfj_any_time_usd": 600000
  },
  "renunciation": {
    "fee_usd": 450,
    "fee_effective": "2026-04-13",
    "fee_previous_usd": 2350,
    "source": "Federal Register 2026-04931 (final rule, 2026-03-13)"
  },
  "statutory_quotes": {
    "irc_951a_ncti_inclusion": {
      "label": "GILTI is renamed net CFC tested income (NCTI) from tax year 2026, IRC §951A(a)",
      "source": "IRC §951A(a) and the section heading, as amended by Pub. L. 119-21, §70323(a)(1) and (a)(3)(E), 139 Stat. 205",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section951A&num=0&edition=prelim",
      "verbatim": "Each person who is a United States shareholder of any controlled foreign corporation for any taxable year of such United States shareholder shall include in gross income such shareholder's net CFC tested income for such taxable year.",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "pl119_21_qbai_deemed_return_repealed": {
      "label": "The QBAI 10% deemed tangible income return is repealed from tax year 2026",
      "source": "Pub. L. 119-21, §70323(a)(2), 139 Stat. 205, captioned \"Repeal of tax-free deemed return on foreign investments\"",
      "url": "https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm",
      "verbatim": "Section 951A, as amended by the preceding provisions of this Act, is amended by striking subsections (b) and (d) and by redesignating subsections (c), (e), and (f) as subsections (b), (c), and (d), respectively.",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "irc_250_ncti_deduction_rate": {
      "label": "§250 deduction from tax year 2026: 40% of net CFC tested income, 33.34% of FDDEI",
      "source": "IRC §250(a)(1) as amended by Pub. L. 119-21, §70321(a), 139 Stat. 204; heading amended by §70323(a)(3)(A)(ii) and (b)(2)(C)(i)",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section250&num=0&edition=prelim",
      "verbatim": "In the case of a domestic corporation for any taxable year, there shall be allowed as a deduction an amount equal to the sum of- (A) 33.34 percent of the foreign-derived deduction eligible income of such domestic corporation for such taxable year, plus (B) 40 percent of- (i) the net CFC tested income amount (if any) which is included in the gross income of such domestic corporation under section 951A for such taxable year, and (ii) the amount treated as a dividend received by such corporation under section 78 which is attributable to the amount described in clause (i).",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "irc_960d_ncti_deemed_paid_credit": {
      "label": "Deemed-paid FTC on tested income from tax year 2026: 90 percent of the inclusion percentage times tested foreign taxes",
      "source": "IRC §960(d)(1) as amended by Pub. L. 119-21, §70312(a)(1), 139 Stat. 203",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section960&num=0&edition=prelim",
      "verbatim": "such domestic corporation shall be deemed to have paid foreign income taxes equal to 90 percent of the product of- (A) such domestic corporation's inclusion percentage, multiplied by (B) the aggregate tested foreign income taxes paid or accrued by controlled foreign corporations.",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "irc_960d2_inclusion_percentage": {
      "label": "Inclusion percentage (IRC §960(d)(2)): net CFC tested income over aggregate tested income, and it scales the §78 gross-up and the deemed-paid credit together",
      "source": "IRC §960(d)(2), as amended by Pub. L. 119-21, §70323(a)(3)(D)",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section960&num=0&edition=prelim",
      "verbatim": "For purposes of paragraph (1), the term \"inclusion percentage\" means, with respect to any domestic corporation, the ratio (expressed as a percentage) of- (A) such corporation's net CFC tested income (as defined in section 951A(b)), divided by (B) the aggregate amount described in section 951A(b)(1)(A) with respect to such corporation.",
      "verified": "2026-08-29",
      "superseded_by": null
    },
    "irc_960d4_pte_credit_disallowance": {
      "label": "No credit for 10 percent of foreign taxes on distributions of previously taxed NCTI (foreign taxes paid or accrued after 2025-06-28)",
      "source": "IRC §960(d)(4), added by Pub. L. 119-21, §70312(b), 139 Stat. 203",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section960&num=0&edition=prelim",
      "verbatim": "No credit shall be allowed under section 901 for 10 percent of any foreign income taxes paid or accrued (or deemed paid under subsection (b)(1)) with respect to any amount excluded from gross income under section 959(a) by reason of an inclusion in gross income under section 951A(a).",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "irc_78_gross_up": {
      "label": "IRC §78 gross-up on NCTI: the FULL deemed-paid taxes, not the 90-percent credit",
      "source": "IRC §78 as amended by Pub. L. 119-21, §70312(a)(2), 139 Stat. 203",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section78&num=0&edition=prelim",
      "verbatim": "If a domestic corporation chooses to have the benefits of subpart A of part III of subchapter N (relating to foreign tax credit) for any taxable year, an amount equal to the taxes deemed to be paid by such corporation under subsections (a) and (d) of section 960 (determined without regard to the phrase \"90 percent of\" in subsection (d)(1) thereof) for such taxable year shall be treated for purposes of this title (other than sections 245 and 245A) as a dividend received by such domestic corporation from the foreign corporation.",
      "verified": "2026-08-29",
      "superseded_by": null
    },
    "irc_6038_5471_penalty": {
      "label": "Form 5471 failure-to-file penalty: $10,000 per foreign business entity per annual accounting period, plus $10,000 for each 30-day period or fraction once the failure runs more than 90 days after the IRS mails notice of it. That continuation increase is capped at $50,000, not the penalty as a whole, so the maximum under subsection (b) is $60,000 per form-year, and a separate foreign tax credit reduction applies under subsection (c), offset by the dollar penalty already imposed.",
      "source": "IRC §6038(b)(1), (b)(2), (c)(1), (c)(2) and (c)(3)",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6038&num=0&edition=prelim",
      "verbatim": "[§6038(b)(1)] If any person fails to furnish, within the time prescribed under paragraph (2) of subsection (a), any information with respect to any foreign business entity required under paragraph (1) of subsection (a), such person shall pay a penalty of $10,000 for each annual accounting period with respect to which such failure exists. [§6038(b)(2)] If any failure described in paragraph (1) continues for more than 90 days after the day on which the Secretary mails notice of such failure to the United States person, such person shall pay a penalty (in addition to the amount required under paragraph (1)) of $10,000 for each 30-day period (or fraction thereof) during which such failure continues with respect to any annual accounting period after the expiration of such 90-day period. The increase in any penalty under this paragraph shall not exceed $50,000. [§6038(c)(1)(A)] in applying section 901 (relating to taxes of foreign countries and possessions of the United States) to such United States person for the taxable year, the amount of taxes (other than taxes reduced under subparagraph (B)) paid or deemed paid (other than those deemed paid under section 904(c)) to any foreign country or possession of the United States for the taxable year shall be reduced by 10 percent. [§6038(c)(1), flush text] If such failure continues 90 days or more after notice of such failure by the Secretary to the United States person, then the amount of the reduction under this paragraph shall be 10 percent plus an additional 5 percent for each 3-month period, or fraction thereof, during which such failure to furnish information continues after the expiration of such 90-day period. [§6038(c)(2)] The amount of the reduction under paragraph (1) for each failure to furnish information with respect to a foreign business entity required under subsection (a)(1) shall not exceed whichever of the following amounts is the greater: (A) $10,000, or (B) the income of the foreign business entity for its annual accounting period with respect to which the failure occurs. [§6038(c)(3)] The amount of the reduction which (but for this paragraph) would be made under paragraph (1) with respect to any annual accounting period shall be reduced by the amount of the penalty imposed by subsection (b) with respect to such period.",
      "verified": "2026-08-29",
      "superseded_by": null
    },
    "pl119_21_ncti_effective_dates": {
      "label": "NCTI/FDDEI effective date: tax years beginning after December 31, 2025",
      "source": "Pub. L. 119-21, §70321(b) and §70323(c), 139 Stat. 204-206",
      "url": "https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm",
      "verbatim": "The amendments made by this section shall apply to taxable years beginning after December 31, 2025.",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "treas_reg_951a2_high_tax_exclusion": {
      "label": "High-tax exclusion: foreign rate ABOVE 90 percent of the §11 rate (derives to above 18.9 percent)",
      "source": "Treas. Reg. §1.951A-2(c)(7)(i)(B)",
      "url": "https://www.ecfr.gov/current/title-26/chapter-I/subchapter-A/part-1/section-1.951A-2",
      "verbatim": "The tentative tested income item with respect to the tentative gross tested income item was subject to an effective rate of foreign tax, as determined under paragraph (c)(7)(vi) of this section, that is greater than 90 percent of the maximum rate of tax specified in section 11.",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "irc_954b4_high_tax_exception": {
      "label": "Statutory high-tax exception: foreign rate above 90 percent of the §11 rate",
      "source": "IRC §954(b)(4)",
      "url": "https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section954&num=0&edition=prelim",
      "verbatim": "For purposes of subsection (a) and section 953, foreign base company income and insurance income shall not include any item of income received by a controlled foreign corporation if the taxpayer establishes to the satisfaction of the Secretary that such income was subject to an effective rate of income tax imposed by a foreign country greater than 90 percent of the maximum rate of tax specified in section 11.",
      "verified": "2026-08-28",
      "superseded_by": null
    },
    "rev_proc_2024_40_brackets": {
      "label": "2025 §1 tax rate table, heads of households: the 32% and 35% bands",
      "source": "IRS Rev. Proc. 2024-40, §2.01, Table 2 (IRC §1(j)(2)(B))",
      "url": "https://www.irs.gov/pub/irs-drop/rp-24-40.pdf",
      "verbatim": "Over $197,300 but not over $250,500 $38,460 plus 32% of the excess over $197,300 Over $250,500 but not over $626,350 $55,484 plus 35% of the excess over $250,500",
      "verified": "2026-08-12",
      "superseded_by": null
    },
    "irc_877A_e_2": {
      "label": "Specified tax-deferred accounts, deemed distributed the day before expatriation",
      "source": "IRC §877A(e)(2)",
      "url": "https://www.law.cornell.edu/uscode/text/26/877A",
      "verbatim": "an individual retirement plan (as defined in section 7701(a)(37)) other than any arrangement described in subsection (k) or (p) of section 408, a qualified tuition program (as defined in section 529), a qualified ABLE program (as defined in section 529A), a Coverdell education savings account (as defined in section 530), a health savings account (as defined in section 223), and an Archer MSA (as defined in section 220)",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_6531": {
      "label": "Criminal tax limitations period (3-year general rule; 6 years for listed offenses including evasion)",
      "source": "IRC §6531",
      "url": "https://www.law.cornell.edu/uscode/text/26/6531",
      "verbatim": "No person shall be prosecuted, tried, or punished for any of the various offenses arising under the internal revenue laws unless the indictment is found or the information instituted within 3 years next after the commission of the offense, except that the period of limitation shall be 6 years— (1) for offenses involving the defrauding or attempting to defraud the United States or any agency thereof, whether by conspiracy or not, and in any manner; (2) for the offense of willfully attempting in any manner to evade or defeat any tax or the payment thereof",
      "verified": "2026-08-09",
      "superseded_by": null
    },
    "irc_6039G_c": {
      "label": "Form 8854 failure-to-file penalty",
      "source": "IRC §6039G(c)",
      "url": "https://www.law.cornell.edu/uscode/text/26/6039G",
      "verbatim": "such individual shall pay a penalty of $10,000 unless it is shown that such failure is due to reasonable cause and not to willful neglect",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_1411_niit": {
      "label": "Net Investment Income Tax",
      "source": "IRC §1411(a)(1)",
      "url": "https://www.law.cornell.edu/uscode/text/26/1411",
      "verbatim": "there is hereby imposed (in addition to any other tax imposed by this subtitle) for each taxable year a tax equal to 3.8 percent of the lesser of",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_3101_b_2_addl_medicare": {
      "label": "Additional Medicare Tax on wages",
      "source": "IRC §3101(b)(2)",
      "url": "https://www.law.cornell.edu/uscode/text/26/3101",
      "verbatim": "a tax equal to 0.9 percent of wages which are received with respect to employment",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_1291_pfic": {
      "label": "PFIC default excess-distribution regime",
      "source": "IRC §1291",
      "url": "https://www.law.cornell.edu/uscode/text/26/1291",
      "verbatim": "the taxpayer's gross income for the current year shall include (as ordinary income) only the amounts allocated",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_6677_foreign_trust": {
      "label": "Foreign trust reporting penalties (Forms 3520 / 3520-A)",
      "source": "IRC §6677(a) and (b)",
      "url": "https://www.law.cornell.edu/uscode/text/26/6677",
      "verbatim": "the person required to file such notice or return shall pay a penalty equal to the greater of $10,000 or 35 percent of the gross reportable amount",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_877A_g_4_date": {
      "label": "Expatriation date for post-2008 expatriations",
      "source": "IRC §877A(g)(4); Instructions for Form 8854",
      "url": "https://www.law.cornell.edu/uscode/text/26/877A",
      "verbatim": "A citizen shall be treated as relinquishing his United States citizenship on the earliest of",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "form_w8ce_deadline": {
      "label": "Form W-8CE notification deadline for eligible deferred compensation",
      "source": "Instructions for Form 8854",
      "url": "https://www.irs.gov/pub/irs-pdf/i8854.pdf",
      "verbatim": "you must file the Form W-8CE with the payor on the earlier of: The day before the first distribution on or after your expatriation date, or 30 days after your expatriation date",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "nongrantor_trust_letter_ruling": {
      "label": "Non-grantor trust election requires an IRS letter ruling",
      "source": "Instructions for Form 8854 (2025), line 1d discussion, citing Rev. Proc. 2025-1",
      "url": "https://www.irs.gov/pub/irs-pdf/i8854.pdf",
      "verbatim": "Before you can make the election, you must get a letter ruling from the IRS as to the value, if ascertainable, of your interest in the trust as of the day before your expatriation date by following the procedures set forth in Rev. Proc. 2025-1, 2025-1 I.R.B. 1",
      "verified": "2026-08-12",
      "superseded_by": null
    },
    "rev_proc_2025_1_letter_rulings": {
      "label": "How a letter ruling is requested: the annual Associate Chief Counsel procedure",
      "source": "Rev. Proc. 2025-1, §1, 2025-1 I.R.B. 1 (26 CFR §601.201)",
      "url": "https://www.irs.gov/irb/2025-01_IRB#REV-PROC-2025-1",
      "verbatim": "This revenue procedure explains how the Service provides advice to taxpayers on issues under the jurisdiction of the Associate Chief Counsel (Corporate), the Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes), the Associate Chief Counsel (Energy, Credits, and Excise Tax), the Associate Chief Counsel (Financial Institutions and Products), the Associate Chief Counsel (Income Tax and Accounting), the Associate Chief Counsel (International), the Associate Chief Counsel (Passthroughs, Trusts and Estates), and the Associate Chief Counsel (Procedure and Administration). It explains the forms of advice and the manner in which advice is requested by taxpayers and provided by the Service.",
      "verified": "2026-08-12",
      "superseded_by": "Rev. Proc. 2026-1, 2026-1 I.R.B. 1, which supersedes Rev. Proc. 2025-1 for rulings requested on or after its effective date. We keep the 2025-1 cite because the current Form 8854 instructions (2025 revision, printed 15-Sep-2025) print 2025-1 by name; anyone actually filing a ruling request now follows the successor."
    },
    "irc_121_residence": {
      "label": "Principal residence gain exclusion",
      "source": "IRC §121(a), (b)(1), (b)(2)",
      "url": "https://www.law.cornell.edu/uscode/text/26/121",
      "verbatim": "The amount of gain excluded from gross income under subsection (a) with respect to any sale or exchange shall not exceed $250,000",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_901_j_sanctioned": {
      "label": "Foreign tax credit denied for sanctioned countries",
      "source": "IRC §901(j)",
      "url": "https://www.law.cornell.edu/uscode/text/26/901",
      "verbatim": "no credit shall be allowed under subsection (a) for any income, war profits, or excess profits taxes paid or accrued (or deemed paid under section 960) to any country if such taxes are with respect to income attributable to a period during which this subsection applies to such country",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_962_election": {
      "label": "Section 962 election: individual taxed at corporate rates on net CFC tested income (formerly GILTI)/subpart F",
      "source": "IRC §962(a)",
      "url": "https://www.law.cornell.edu/uscode/text/26/962",
      "verbatim": "the tax imposed under this chapter on amounts which are included in his gross income under section 951(a) shall (in lieu of the tax determined under sections 1 and 55) be an amount equal to the tax which would be imposed under section 11 if such amounts were received by a domestic corporation",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_402_b_nonexempt_trust": {
      "label": "Nonexempt employees' trust (foreign pension) treatment",
      "source": "IRC §402(b)(1), (b)(2)",
      "url": "https://www.law.cornell.edu/uscode/text/26/402",
      "verbatim": "shall be included in the gross income of the employee in accordance with section 83 (relating to property transferred in connection with performance of services)",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_957_a_cfc": {
      "label": "Controlled foreign corporation definition",
      "source": "IRC §957(a)",
      "url": "https://www.law.cornell.edu/uscode/text/26/957",
      "verbatim": "any foreign corporation if more than 50 percent of",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "rev_proc_2020_17": {
      "label": "Form 3520/3520-A exemption for tax-favored foreign retirement trusts",
      "source": "Rev. Proc. 2020-17",
      "url": "https://www.irs.gov/pub/irs-drop/rp-20-17.pdf",
      "verbatim": "This revenue procedure provides an exemption from the information reporting requirements under section 6048 of the Internal Revenue Code for certain U.S. citizen and resident individuals (U.S. individuals) with respect to their transactions with, and ownership of, certain tax-favored foreign retirement trusts",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_1445_firpta": {
      "label": "FIRPTA withholding on disposition of a US real property interest",
      "source": "IRC §1445(a)",
      "url": "https://www.law.cornell.edu/uscode/text/26/1445",
      "verbatim": "the transferee shall be required to deduct and withhold a tax equal to 15 percent of the amount realized on the disposition",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irc_6013_g_nra_spouse": {
      "label": "Election to treat a nonresident alien spouse as a US resident",
      "source": "IRC §6013(g)(1)",
      "url": "https://www.law.cornell.edu/uscode/text/26/6013",
      "verbatim": "shall be treated as a resident of the United States",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "irm_4_26_16_3_11": {
      "label": "IRM: delinquent FBAR, when a penalty will not be asserted",
      "source": "IRM 4.26.16.3.11 (Manual Transmittal 2025-08-26, superseding 2021-06-24)",
      "url": "https://www.irs.gov/irm/part4/irm_04-026-016",
      "verbatim": "A penalty will not be asserted for an account if it is determined that the failure to report the account on a timely filed FBAR was not willful, the failure to report the account on a timely-filed FBAR was due to reasonable cause, and the account was properly reported on the delinquent FBAR",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "usc31_5322_fbar_criminal": {
      "label": "Criminal penalty for willful BSA/FBAR violations",
      "source": "31 U.S.C. §5322(a)",
      "url": "https://www.law.cornell.edu/uscode/text/31/5322",
      "verbatim": "A person willfully violating this subchapter or a regulation prescribed or order issued under this subchapter (except section 5315, 5324, or 5336 of this title or a regulation prescribed under section 5315, 5324, or 5336), or willfully violating a regulation prescribed under section 21 of the Federal Deposit Insurance Act or section 123 of Public Law 91–508, shall be fined not more than $250,000, or imprisoned for not more than five years, or both",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "usc18_3282_general_sol": {
      "label": "General federal criminal statute of limitations",
      "source": "18 U.S.C. §3282(a)",
      "url": "https://www.law.cornell.edu/uscode/text/18/3282",
      "verbatim": "Except as otherwise expressly provided by law, no person shall be prosecuted, tried, or punished for any offense, not capital, unless the indictment is found or the information is instituted within five years next after such offense shall have been committed",
      "verified": "2026-08-08",
      "superseded_by": null
    },
    "cfr31_1010_306c_fbar_threshold": {
      "label": "FBAR $10,000 filing trigger (operative fragment of 31 CFR 1010.306(c))",
      "source": "31 CFR §1010.306(c), implementing 31 U.S.C. §5314 via §1010.350",
      "url": "https://www.law.cornell.edu/cfr/text/31/1010.306",
      "verbatim": "with respect to foreign financial accounts exceeding $10,000 maintained during the previous calendar year",
      "verified": "2026-08-09",
      "superseded_by": null
    },
    "fincen_fbar_maximum_account_value_aggregate": {
      "label": "FBAR $10,000 trigger is the sum of each account's maximum value during the year",
      "source": "FinCEN, “Reporting Maximum Account Value” (FBAR Form 114 filing instruction)",
      "url": "https://www.fincen.gov/reporting-maximum-account-value",
      "verbatim": "Determine the maximum value of each account (in the currency of that account) during the calendar year being reported. ... If the maximum account value of a single account or aggregate of the maximum account values of multiple accounts exceeds $10,000, an FBAR must be filed. An FBAR is not required to be filed if the person did not have $10,000 of maximum value or aggregate maximum value in foreign financial accounts at any time during the calendar year.",
      "verified": "2026-08-27",
      "superseded_by": null
    },
    "cfr31_1010_350a_fbar_obligation": {
      "label": "Who must file an FBAR (31 CFR 1010.350(a))",
      "source": "31 CFR §1010.350(a), the reporting requirement itself, prescribed under 31 U.S.C. §5314",
      "url": "https://www.law.cornell.edu/cfr/text/31/1010.350",
      "verbatim": "Each United States person having a financial interest in, or signature or other authority over, a bank, securities, or other financial account in a foreign country shall report such relationship to the Commissioner of Internal Revenue for each year in which such relationship exists",
      "verified": "2026-08-27",
      "superseded_by": null
    },
    "irc_6039F_foreign_gift_penalty": {
      "label": "Late or missing Form 3520 foreign-gift report: penalty",
      "source": "IRC §6039F(c), specifically §6039F(c)(1)(B); reasonable-cause exception at §6039F(c)(2)",
      "url": "https://www.law.cornell.edu/uscode/text/26/6039F",
      "verbatim": "an amount equal to 5 percent of the amount of such foreign gift for each month for which the failure continues (not to exceed 25 percent of such amount in the aggregate)",
      "verified": "2026-08-18",
      "superseded_by": null
    },
    "irc_6651_failure_to_pay": {
      "label": "Failure-to-pay penalty (the amount a CP14 balance grows by each month)",
      "source": "IRC §6651(a)(2)",
      "url": "https://www.law.cornell.edu/uscode/text/26/6651",
      "verbatim": "0.5 percent of the amount of such tax if the failure is for not more than 1 month, with an additional 0.5 percent for each additional month or fraction thereof",
      "verified": "2026-08-18",
      "superseded_by": null
    },
    "irc_6621_underpayment_rate": {
      "label": "Interest on an unpaid balance",
      "source": "IRC §6621(a)(2)",
      "url": "https://www.law.cornell.edu/uscode/text/26/6621",
      "verbatim": "The underpayment rate established under this section shall be the sum of— (A) the Federal short-term rate determined under subsection (b), plus (B) 3 percentage points",
      "verified": "2026-08-18",
      "superseded_by": null
    },
    "irc_102_gifts_excluded": {
      "label": "Gifts and inheritances are excluded from gross income",
      "source": "IRC §102(a)",
      "url": "https://www.law.cornell.edu/uscode/text/26/102",
      "verbatim": "Gross income does not include the value of property acquired by gift, bequest, devise, or inheritance.",
      "verified": "2026-08-18",
      "superseded_by": null
    },
    "irc_7345_passport": {
      "label": "Passport certification for seriously delinquent tax debt",
      "source": "IRC §7345(a) and (b)",
      "url": "https://www.law.cornell.edu/uscode/text/26/7345",
      "verbatim": "the Secretary shall transmit such certification to the Secretary of State for action with respect to denial, revocation, or limitation of a passport",
      "verified": "2026-08-18",
      "superseded_by": null
    },
    "irc_7701b_green_card_test": {
      "label": "Green card test: US tax residency starts at lawful permanent resident status, not physical relocation",
      "source": "IRC §7701(b)(1)(A)(i); IRS \"U.S. tax residency – Green card test\"",
      "url": "https://www.irs.gov/individuals/international-taxpayers/us-tax-residency-green-card-test",
      "verbatim": "You are a resident, for U.S. federal tax purposes, if you are a lawful permanent resident of the United States at any time during the calendar year.",
      "verified": "2026-08-19",
      "superseded_by": null
    }
  },
  "us_totalization_agreements_asia_pacific": {
    "in_force": [
      "japan",
      "south_korea",
      "australia"
    ],
    "no_agreement": [
      "singapore",
      "hong_kong",
      "china",
      "thailand",
      "india",
      "uae",
      "philippines",
      "vietnam",
      "malaysia"
    ]
  }
}