$10000 aggregate threshold
FBARMulti
$10000 aggregate threshold any time during year
Source: TFE
$10000+ penalty per omission
FATCA Form 8938Short
$10K+ penalty per omission
Source: KDA
$1B+ AFSI test
CAMTMulti
$1B+ adjusted financial statement income
Source: RSM
$25K/$50K low-value exemption
PFICMulti
$25K single $50K joint exemption
Source: TFE
1% on remittances out
Remittance TaxMulti
1% on remittances out 2026+
Source: encyclopedia
15% Corporate AMT IRA 2022
CAMTMulti
15% CAMT from IRA 2022
Source: RSM
30% default + treaty rates
WithholdingMulti
30% default WHT lower with treaty
Source: encyclopedia
40% penalty + interest
PFICShort
Penalties exceed 40% of original investment
Source: KDA
50% passive assets test
PFICMulti
50%+ passive assets test
Source: encyclopedia
75% passive income test
PFICMulti
75%+ passive income test
Source: encyclopedia
80% test inversion
InversionMulti
80% continuity = full inversion
Source: encyclopedia
Abroad joint $400K/$600K
FATCA Form 8938Multi
Abroad joint $400K/$600K threshold
Source: TFE
Abroad single $200K/$300K
FATCA Form 8938Multi
Abroad single $200K/$300K threshold
Source: TFE
April 15 due automatic Oct 15
FBARMulti
FBAR April 15 with auto extension to Oct 15
Source: TFE
Avoid foreign mutual funds
PFICMulti
Just avoid foreign mutual funds entirely
Source: encyclopedia
Bittner v US 2023
FBARMulti
Bittner v US clarified non-willful penalty per form
Source: TFE
Bona fide residence test
ExpatMulti
Bona fide residence test
Source: encyclopedia
CFC Controlled Foreign Corp
CFC / NCTIMulti
CFC = US persons own >50% foreign corp
Source: TaxAdviser
Cayman Bermuda BVI
Tax HavenMulti
Cayman Bermuda BVI traditional tax havens
Source: encyclopedia
Citizenship-based taxation US
ExpatMulti
US taxes on citizenship not residency
Source: Zenith
Common Reporting Standard OECD
CRSMulti
CRS OECD - 100+ countries report data
Source: encyclopedia
Covered expatriate definition
ExpatShort
Covered expatriate definition
Source: encyclopedia
Default Section 1291 punitive
PFICShort
Default Section 1291 punitive treatment
Source: encyclopedia
ECI effectively connected income
WithholdingMulti
ECI - graduated rates Form 1040-NR
Source: TaxAdviser
Effective rate 12.6%
CFC / NCTIMulti
Effective corporate rate 21% × 60% = 12.6%
Source: TFE
Excess distribution lookback
PFICShort
Excess distribution + lookback interest
Source: encyclopedia
Exit tax over $2M assets
ExpatShort
Exit tax for expatriating $2M+ assets
Source: encyclopedia
FATCA Form 8938 Title 26
FATCA Form 8938Multi
FATCA Form 8938 - Title 26 IRS
Source: TFE
FBAR FinCEN 114 reporting
FBARMulti
FBAR FinCEN 114 foreign account reporting
Source: TFE
FDAP fixed determinable income
WithholdingMulti
FDAP income 30% WHT
Source: TFE
FDII renamed FDDEI
CFC / NCTIMulti
FDII renamed FDDEI under OBBBA
Source: RSM
FEIE Foreign Earned Income Exclusion
ExpatLong
FEIE excludes ~$130K (2025)
Source: encyclopedia
FTC cap raised 80% → 90%
CFC / NCTILong
Indirect FTC cap raised 80% to 90%
Source: RSM
FTC carryover 10 years
ExpatMulti
FTC carryover up to 10 years
Source: Zenith
FTC vs FEIE choice
ExpatMulti
Choose FTC (high-tax country) vs FEIE
Source: Zenith
Foreign FI reporting required
FATCA Form 8938Multi
Foreign FIs report US account holders
Source: TFE
Foreign housing exclusion
ExpatMulti
Foreign housing exclusion + deduction
Source: Zenith
Foreign mutual funds typical PFIC
PFICMulti
Most foreign mutual funds = PFIC
Source: KDA
Form 3520 foreign gifts/trusts
FormsMulti
Form 3520 foreign gifts + trust distributions
Source: TFE
Form 3520-A foreign trust info
FormsMulti
Form 3520-A foreign trust info return
Source: encyclopedia
Form 5471 $10K-$50K penalty
CFC / NCTIShort
Form 5471 $10K initial + $50K continuing
Source: TFE
Form 5471 required >=10%
CFC / NCTIMulti
Form 5471 required for CFC US shareholders
Source: TFE
Form 5472 $25K penalty
FormsShort
Form 5472 $25K starting penalty
Source: TFE
Form 5472 foreign-owned LLC
FormsMulti
Form 5472 foreign-owned US LLC
Source: TFE
Form 8621 required
PFICMulti
Form 8621 PFIC reporting
Source: TFE
Form 8832 check-the-box election
FormsMulti
Form 8832 check-the-box classification
Source: TFE
Form 8833 treaty disclosure
ExpatMulti
Form 8833 treaty position disclosure
Source: encyclopedia
Form 8854 expatriation
ExpatMulti
Form 8854 expatriation reporting
Source: encyclopedia
Form 8858 foreign disregarded
FormsMulti
Form 8858 foreign disregarded entity branches
Source: TFE
Form 8865 foreign partnerships
FormsMulti
Form 8865 foreign partnerships
Source: TFE
Form 926 transfers to foreign
FormsMulti
Form 926 transfers to foreign corp
Source: TaxAdviser
Form W-7 ITIN application
ITINMulti
Form W-7 ITIN application
Source: encyclopedia
Form W-8BEN treaty claim
ITINMulti
Form W-8BEN beneficial owner
Source: encyclopedia
GILTI excluded from ATI
Section 163(j)Multi
GILTI/NCTI excluded from ATI
Source: RSM
GILTI renamed NCTI
CFC / NCTIMulti
GILTI renamed NCTI under OBBBA
Source: RSM
Heart Act 877A
ExpatShort
Heart Act Section 877A exit tax
Source: encyclopedia
Hybrid mismatch rules
TreatiesMulti
Hybrid mismatch rules under BEPS
Source: encyclopedia
IIR Income Inclusion Rule
Pillar TwoMulti
IIR top-up tax under Pillar Two
Source: encyclopedia
IRS launched FATCA campaign 2025
FATCA Form 8938Multi
IRS launched FATCA enforcement campaign 2025
Source: RSM
ITIN Individual Taxpayer ID
ITINMulti
ITIN for non-citizens not eligible SSN
Source: encyclopedia
Ireland 12.5% historical
Tax HavenMulti
Ireland 12.5% corporate (now 15% with P2)
Source: encyclopedia
June 15 auto extension expats
ExpatMulti
Auto 2-month extension to June 15
Source: Zenith
LOB Limitation on Benefits
TreatiesMulti
LOB limits treaty shopping
Source: encyclopedia
MFN Most Favored Nation
TreatiesMulti
MFN provisions in some treaties
Source: encyclopedia
MLI Multilateral Instrument
TreatiesMulti
MLI BEPS multilateral
Source: encyclopedia
Mark-to-Market MTM election
PFICMulti
MTM election if PFIC stock readily traded
Source: TFE
New penalty regimes 2025
CRSMulti
Several jurisdictions new CRS penalty regimes 2025
Source: RSM
Non-willful $10K per violation
FBARShort
Non-willful $10K per violation
Source: encyclopedia
OBBBA EBITDA reinstated
Section 163(j)Long
OBBBA permanently reinstated EBITDA basis
Source: RSM
OBBBA remittance tax
Remittance TaxMulti
OBBBA remittance tax for transfers Jan 2026+
Source: TaxAdviser
OECD Pillar Two 15% global min
Pillar TwoMulti
OECD Pillar Two 15% global minimum tax
Source: Dilendorf
Physical presence 330 days test
ExpatMulti
Physical presence 330 days test
Source: encyclopedia
QBAI carve-out eliminated
CFC / NCTIShort
QBAI 10% routine return eliminated
Source: TFE
QDMTT Qualified Domestic Min
Pillar TwoMulti
QDMTT - countries collect 15% locally
Source: encyclopedia
QEF election Qualified Electing
PFICMulti
QEF election - current inclusion of pro rata
Source: TFE
Savings clause exceptions
ExpatMulti
Savings clause - US can still tax citizens
Source: Zenith
Section 163(j) interest limit
Section 163(j)Multi
Section 163(j) - 30% ATI interest limit
Source: RSM
Section 250 deduction 40%
CFC / NCTIMulti
Section 250 deduction 40% post-OBBBA
Source: RSM
Section 7874 inversion rules
InversionMulti
Section 7874 anti-inversion rules
Source: encyclopedia
Section 958(b)(4) restoration
PFICMulti
Some non-CFCs may become PFIC 2026
Source: RSM
Section 962 election individuals
CFC / NCTIMulti
Section 962 election - corp rates for individuals
Source: TFE
Signature authority counts
FBARMulti
Signature authority alone counts
Source: TFE
Specified foreign financial assets
FATCA Form 8938Multi
Specified foreign financial assets covered
Source: TFE
Streamlined procedure non-willful
ExpatMulti
Streamlined Filing Procedures non-willful relief
Source: encyclopedia
Subpart F income current
CFC / NCTIMulti
Subpart F income current inclusion
Source: TaxAdviser
Tax treaty benefits
ExpatMulti
Tax treaty benefits if applicable
Source: Dilendorf
Tax-return-due date
FATCA Form 8938Multi
Form 8938 due with tax return
Source: TFE
Treasury Bank Secrecy Act
FBARMulti
FBAR under Bank Secrecy Act not Title 26
Source: TFE
UK SIPP exempt typically
PFICMulti
UK SIPP typically PFIC exempt
Source: TFE
US doesn't participate FATCA instead
CRSMulti
US doesn't follow CRS - uses FATCA instead
Source: encyclopedia
US joint $100K/$150K
FATCA Form 8938Multi
US joint $100K/$150K threshold
Source: TFE
US persons + entities
FBARMulti
US persons + entities required
Source: TFE
US shareholder >=10%
CFC / NCTIMulti
US Shareholder = US person owns >=10%
Source: TaxAdviser
US single $50K/$75K threshold
FATCA Form 8938Multi
US single resident $50K/$75K threshold
Source: TFE
US treaty network 60+
TreatiesMulti
US has 60+ tax treaties
Source: encyclopedia
US-domiciled ETFs preferred
PFICLong
Use US-domiciled ETFs instead
Source: encyclopedia
UTPR Undertaxed Profits Rule
Pillar TwoMulti
UTPR backstop under Pillar Two
Source: encyclopedia
VDP voluntary disclosure willful
ExpatMulti
Voluntary Disclosure for willful violators
Source: encyclopedia
Willful $100K+ penalty
FBARShort
Willful penalty $100K+ or 50% account value
Source: KDA
Worldwide income reporting
ExpatMulti
Worldwide income reporting required
Source: Zenith
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