The US Tax Team New Zealand

Every few months, we tend to receive a flurry of enquiries from clients regarding renunciation of US citizenship, usually after seeing online information which poses the worst case scenario as ordinary.

In our article this week, we'll go over some mythbusters regarding renouncing US citizenship, include a helpful contribution from Amanda Sadlier of Optimum Law Ltd

https://www.usatax.nz/post/mythbusters-renouncing-us-citizenship

Mythbusters - Renouncing US Citizenship Every few months, we tend to receive a flurry of enquiries from clients regarding renunciation of US citizenship, usually after seeing online information which poses the worst case scenario as ordinary. Amongst a wide range of articles and webinars regarding renouncing US citizenship, there’s usua...

For many US citizens living in New Zealand, buying shares in a New Zealand company seems like a straightforward investment. Unfortunately, the US tax rules don't always agree.

https://www.usatax.nz/post/a-us-citizen-buying-shares-in-a-new-zealand-company-what-you-need-to-know

A US Citizen Buying Shares in a New Zealand Company – What You Need to Know For many US citizens living in New Zealand, buying shares in a New Zealand company seems like a straightforward investment. Unfortunately, the US tax rules don't always agree.

Mandatory KiwiSaver, mandatory US tax return?

One of the policies announced for the upcoming New Zealand election, was the mandatory creation of KiwiSaver accounts for New Zealand citizen children at birth.

But, for those who also become US citizens at birth, how might this policy impact them?

NZ First KiwiSaver Policy - Tax Filing at Birth? What would the implications of the NZ First KiwiSaver at birth policy have for US citizen children?

One common concern that US taxpayers overseas have, is that the IRS may tax cash in bank accounts. Fortunately, cash in the bank is usually considered to be “post tax”, meaning it assumed that the cash was taxed when the income was earned, as opposed to tax on bank balances.

But, in what circumstances may US tax exist on bank balances, and when does the IRS consider income to be earned and US tax to apply?

www.usatax.nz

More than two years after the State Department proposed lowering the fee to renounce US citizenship, a reduction has finally come into affect as of 13th April 2026.

Fee to Renounce US Citizenship Dropped More than two years after the State Department proposed lowering the fee to renounce US citizenship, a reduction has finally come into affect as of 13th April 2026.

Received a letter from your NZ bank asking for your Social Security Number? This is now standard practice for New Zealand based banks, is part of the obligations required of banks under the FATCA legislation.

But, one question we’re frequently asked, is whether New Zealand banks report accounts directly to the IRS?

Do New Zealand Banks Report to the IRS? Received a letter from your NZ bank asking for your Social Security Number? This is now standard practice for New Zealand based banks, is part of the obligations required of banks under the FATCA legislation. But, one question we’re frequently asked, is whether New Zealand banks report accounts di...

In this busy US tax season, we encounter many clients with differing financial circumstances, but in 2026 one common US tax advice area for us has been on the implications of being a W-2 employee here in New Zealand.

www.usatax.nz