Get Irs 8854 2024-2025

Filing the IRS 8854 form is a crucial step for individuals who have expatriated from the United States. This guide provides step-by-step instructions to fill out the form accurately and efficiently online.

Follow the steps to complete your IRS 8854 form online.

1. Click ‘Get Form’ button to access the IRS 8854 online and open it in your preferred digital format.
2. Fill in your general information in Part I, including your mailing address and telephone number. Ensure that this information is accurate as it will be used for correspondence after your expatriation.
3. Provide the address of your principal foreign residence, if it differs from your mailing address. This helps the IRS understand where you are residing.
4. Indicate your country of tax residence if it is different from your principal foreign residence. This section clarifies your tax obligations in relation to expatriation.
5. Check the appropriate box that applies to your situation — whether you are submitting an initial expatriation statement or an annual statement for those who expatriated before 2024.
6. Enter your date of expatriation and define whether you are a citizen or a long-term resident, including any dual residency status.
7. List all countries where you hold citizenship, along with the dates you became a citizen in each case. This information is vital for appropriate tax categorization.
8. Complete the details regarding how you acquired your U.S. citizenship and provide dates related to your lawful permanent resident status.
9. In Part II, provide your U.S. income tax liability for the five tax years before your expatriation. Specify the amounts clearly for each year.
10. Enter your net worth on the date of expatriation. This is a crucial figure that will influence your tax reporting.
11. Indicate if there have been significant changes to your assets and liabilities in the five years before expatriation and provide a detailed explanation if necessary.
12. Complete the sections related to your balance sheet in Section B, providing the fair market value and U.S. adjusted basis of your assets and liabilities.
13. In Section C, report any property owned on the date of expatriation and provide necessary details about deferred compensation items.
14. If applicable, elect to defer tax under Section D, following the instructions carefully to avoid penalties.
15. Once all sections have been completed and reviewed for accuracy, save your changes, and choose to download, print, or share your completed form.

Complete your IRS 8854 form online today to ensure compliance with your expatriation requirements.