For the first time since starting this website I had someone contact me last week on the topic of renouncing US citizenship. The person is a dual US/Irish national and does live in Ireland. They have read through much of the information available officially, but would love for someone to chime in with first hand experience if they have gone through the process or know someone that does.

I'm sure this might be a very touchy subject for some. My guess is that some people think it's a crazy idea, however, it's a very personal decision, and US law does provide a means to do it.

I've been reading quite a bit about what it entails in recent days and have discovered a lot that I never knew before. Some of what I've learned is from official sources, and more is from reading what people have wrote having gone through the process. I'm going to summarize some of what I've learned here for anyone that is interested.

• to renounce, you must do so at a US embassy outside of the US.
• renouncing is an irrevocable act, and you will lose all benefits of being a US citizen as a result.
• you will have a number of interviews with US consulates (likely 2, but possibly more)
• there is some paperwork to file (DS4079 DS4081 and DS4082), and a somewhat substantial filing fee (our reader quoted approx $2500)
• you do not need to hold a second citizenship, although it will make your life many times easier if you do.
• renunciation appointments at embassies around the world have become difficult to secure (a possible deterrent maybe?)
• in many cases you can continue to collect social security payments after you renounce, however this is definitely worth researching ahead of time.
• if you meet the criteria of being a 'covered expatriate' you could be responsible for paying a very hefty 'exit tax' when you renounce.
• there are a number of criteria to assess whether or not you will be a covered expatriate, including a net worth assessment, average net worth income in the past 5 years, your standing with the federal tax service. You only need to meet one of these criteria to qualify. See link above.
• not only could you have to pay out of pocket if you are a covered expat, any gifts you give to US citizens after renouncing,, are more stringently taxed than had you retained citizenship.
• you should not avail of any 'significant' US citizen benefits while your application is being processed.
• if your case is approved you should receive a Certificate of Loss of Nationality
• one source, cited below, indicates that you should never state (written or orally) that you are renouncing to avoid taxes.

Recommended reading:
IRS Expat tax information
https://www.irs.gov/individuals/international-taxpayers/expatriation-tax

Firsthand story of "How I renounced my US citizenship, and why"

Exit tax guide
http://www.renunciationguide.com/expatriation-and-tax-details-of-current-law/exit-tax-on-renunciants/

How to Renounce Your U.S. Citizenship in Two Easy Steps (Book on Amazon)

Disclaimer: the information provided on this website on this topic is solely to generate discussion if people wish to talk about it here. It is not legal advice, not professional advice, and should not be used as a guide to renounce US citizenship.