Retiring Abroad: A Tax Guide for Advisors and Their Clients

Wednesday, May 25, 2016 - 1:00pm to 2:30pm
Online Webinar,

On May 25, 2016 Attorney Patricia Weisgerber and Attorney Morris N. Robinson participated in a webinar hosted by Lorman. You can download audio of the presentation here. See below for the event description and agenda.


This webinar will assist professionals in preparing their clients for the surprising tax reporting complexities that exist with overseas living.

Retirees considering a life abroad don't often imagine the tax-related problems they might encounter when opening bank accounts, making charitable gifts or receiving retirement payments overseas. Even seemingly simple things like part-time employment, purchasing life insurance or investing in a mutual fund-type product can trigger complicated tax consequences. This topic will help advisors understand how to advise their retiree clients on staying compliant with U.S. tax policies and avoiding potential IRS penalties while living the good life overseas.

Learning Objectives
- You will be able to define how to minimize problems when opening foreign bank accounts and transferring funds between foreign bank accounts and domestic United States bank accounts.

- You will be able to describe the "nuts and bolts" of filing United States income tax returns when living abroad. You will learn how to file United States income tax returns abroad, when to file and when to pay.

- You will be able to identify the effect of marriage to a non-resident alien on United States income tax compliance.

- You will be able to recognize how to report gains from foreign mutual funds.


Reporting Income and Deductions to IRS

  • Marital Status – Foreign Spouse and the 6013(g) Election
  • Dependency Exemptions – Exempt Individuals Located Outside the United States

Reporting Unrealized Gains and Income From Foreign Investments

  • Foreign Mutual Funds (PFICs)
  • Foreign Retirement and Insurance Plans

Avoidance of Double Taxation

  • Foreign Tax Credit
  • Earned Income Exclusion
  • Tax Treaties

Reporting Ownership and/or Signature Authority Over Foreign Financial Assets

  • Foreign Bank Account Reports (FBARs)
  • Form 8938: Statement of Specified Foreign Financial Assets

Reporting Ownership Over Foreign Corporations, Partnerships and Trusts

  • Foreign Corporations – Form 5471
  • Foreign Partnerships – Form 8865
  • Foreign Trusts – Form 3520

Penalty Avoidance and Mitigation

  • Streamlined Voluntary Disclosure Programs
  • Other Programs That Completely Avoid Penalties


  • CAC - 0.5
  • CLE - 1.5-1.8
  • CPE - 1.5 including Personal Development 1.5

Click here to register

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