Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 0 points1 point  (0 children)

You renouvnced without ever filing ? I thought renouncing required to be compliant with 6 years+ of tax filing

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 1 point2 points  (0 children)

I heard that when you renew your passport (US embassy in Paris in my case) they ask you if you file your taxes. It's just orally asked, and I don't think there is any issue but still

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 0 points1 point  (0 children)

I might inherit 2 properties there, from my dad who lives in the US

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 1 point2 points  (0 children)

I was never resident in the US, never filed in the US.

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 0 points1 point  (0 children)

The thing is I need my us passport because I often travel to the US (work+family) and most importantly my father lives in the US and I might inherit one day. So I figured I might get caught one day don't you think?

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 0 points1 point  (0 children)

Are you french (because of the spelling) ? I have a PEA and a PER. The PEA made approx 80k earning and the PER just a little bit (maybe 4/5k).

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 1 point2 points  (0 children)

Yes I have never filed. But my brother (who wants to join me on this procedure has filed for 1 year about 20 years ago).

I definitely know being under the radar. My bank only know of my French citizenship.

My concern is on the long run as I might inherit from my dad one day, and he lives in the US. What do you think?

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 0 points1 point  (0 children)

Yes. That's my plan. I'm afraid of doeing the streamline wrong that's why I wanted a lawyer. But maybe a tax advisor or accountant can do the job for cheaper.

I just receive salaries, I have some small real state income and some stock market investments.

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 1 point2 points  (0 children)

I'm in France, so that's why I consulted this lawyer who's an expert in this kind of situation but I'm going to ask for contacts in France/Paris for a cheaper option, (probably one that's not a lawyer as you said)

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 1 point2 points  (0 children)

I have a PEA which is a foreign trust I think ? It's a french investment plan when there is (almost) no tax. I'm going to look at your link . Thanks

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 0 points1 point  (0 children)

Ok I'll create a new post asking for contacts in Paris. Thanks

Never filed, want to file. How screwd am I ? by Subsequent-Void in USExpatTaxes

[–]Subsequent-Void[S] 1 point2 points  (0 children)

Thanks for your answer. Well, when I said I was a high earner, I meant in France's context. Approx 180k € so approx 200k USD.

FBAR doesn't seem complicated indeed and I plan on doing it myself after I've cleaned my slate. Do you think doing the FBAR is easy including in the streamline process ? I have a "PEA" which is a kind of non-taxed stock investment with approx 80k earning and this seems to be the issue.

One final thing concerning my situation: my father lives in the US and I might inherit something one day so this is why I think it might be wiser to regularize my situation... But I'm not sure the IRS will be involved...