Discover your complete US tax compliance risk in 10 strategic steps. This comprehensive assessment evaluates American citizens and green card holders across four critical risk areas: Income Tax compliance, FBAR/FATCA reporting, GILTI obligations, and Exit Tax implications. Get your personalized risk score, required tax forms, filing deadlines, penalty exposure, and professional guidance recommendations based on your specific expat situation.
Transform complex US expat tax obligations into clear, actionable compliance guidance.
US Expat Tax Risk Assessment: Frequently Asked Questions
Get answers to critical questions about US expat tax compliance and risk assessment
Yes – US citizens and green card holders must file US tax returns annually regardless of where they live. This includes:
Worldwide income reporting on Form 1040
FBAR filing for foreign accounts over $10,000
Form 8938 for substantial foreign assets
Various international forms based on specific circumstances
1. Income Tax Risk: Form 1040, Form 2555 (FEIE), Form 1116 (FTC) compliance
2. FBAR/FATCA Risk: Foreign account and asset reporting requirements
3. GILTI/CFC Risk: Foreign business ownership complications and tax exposure
4. Exit Tax Risk: Potential tax liability for citizenship renunciation
FBAR penalties: $12,921+ per account (non-willful) or $129,210+ (willful)
Form 8938 penalties: $10,000-$50,000 for asset non-disclosure
Form 5471 penalties: $10,000-$60,000 for unreported foreign corporations
Exit tax: Potentially millions for high-net-worth individuals
Simple returns: 8-15 hours DIY or $800-2,000 professional
Moderate complexity: 15-30 hours DIY or $2,000-5,000 professional
High complexity: 40+ hours DIY or $5,000-15,000+ professional
GILTI (Global Intangible Low-Taxed Income) applies to US shareholders owning 10%+ of foreign corporations.
This includes many expat business owners, digital nomads with foreign LLCs, and investors in foreign companies.
Citizenship renunciation is complex and permanent. Consider if you:
• Have significant foreign income/assets
• Live permanently abroad with strong ties to another country
• Face substantial ongoing US tax liability
• Meet exit tax thresholds (net worth $2 million+ or average annual net income tax liability $206,000+ (2025 figure) over the last 5 years)
How to Use the US Expat Tax Risk Assessment Tool
Complete this 10-step assessment to identify your tax compliance risks and requirements
Citizenship & Residency Status
Confirm your citizenship status (US citizen, green card holder, or neither) and current residency status including substantial presence test requirements and duration of foreign residence.
Income Sources & Amounts
Detail your income sources including employment, business, investment, and rental income. Specify income types and ranges to determine Form 1040, FEIE, and FTC obligations.
Foreign Account Information
Provide details about foreign bank accounts and their values. Account balances ranging from under $10K to above $200K determine FBAR and FATCA reporting requirements.
Business Ownership Details
Specify foreign business ownership including corporation type, partnership interests, and ownership percentages. This determines CFC rules, GILTI exposure, and Form 5471 requirements.
Assets & Future Plans
Report total foreign assets (up to $2M+) and any citizenship renunciation plans. This evaluates Form 8938 thresholds and potential exit tax implications under Form 8854.
Your Risk Assessment Dashboard Will Show
Information You’ll Need Before Starting
- Citizenship documentation: Current status as US citizen, green card holder, or other
- Residency timeline: Years living abroad and substantial presence test considerations
- Income details: All sources including employment, business, investment, and rental income
- Foreign account information: Bank account details, maximum balances, and account types
- Business ownership: Foreign corporations, partnerships, or sole proprietorships owned
- Asset inventory: Total foreign assets including real estate, investments, and business interests
- Future planning: Any considerations about citizenship status or long-term expat plans
Assessment Results & Tax Resources
Complete your risk assessment and optimize your expat tax strategy
What You’ll Get from Your Assessment
Personalized Risk Dashboard
Overall risk score (High/Medium/Low) with visual progress indicators across all four critical compliance areas.
Required Tax Forms List
Specific IRS forms you need to file including Form 1040, 2555, 8938, 5471, 3520, and others based on your situation.
Filing Deadlines & Extensions
Complete timeline of when each form is due, available extensions, and critical dates you cannot miss.
Penalty Risk Assessment
Detailed breakdown of potential fines for non-compliance, distinguishing between willful and non-willful violations.
Complexity & Time Estimates
Expected hours needed for DIY preparation versus professional assistance, with cost estimates for tax services.
Downloadable PDF Report
Complete summary of your assessment results, recommendations, and next steps for easy reference and professional consultation.
Professional Guidance Recommendations
Clear guidance on when to seek specialized expat tax advisor help based on your risk profile and complexity level.
Related US Expat Tax Resources
Maximize your tax strategy with our comprehensive expat tax toolkit:
Foreign Earned Income Exclusion Calculator
Optimize your FEIE benefits and housing exclusion for maximum tax savings
Foreign Bank Account Compliance Calculator
Determine your FBAR and FATCA reporting requirements with precision
Complete FBAR Filing Guide
Step-by-step compliance instructions and deadline information
Exit Tax Planning Guide
Critical information for those considering citizenship renunciation
Explore Our Complete Strategic Toolkit
Beyond this calculator, we offer 10+ specialized tools covering tax compliance, offshore banking, business formation, and residency planning.
Comprehensive HubComplete U.S. Citizen Strategy Center
Beyond tax compliance—explore the full spectrum of offshore strategies, exit planning, and wealth protection specifically designed for U.S. citizens.
Official Tax Resources
Note: These links go directly to official government resources. Tax regulations change frequently; always refer to the most current official guidance.