The State Department has slashed by about 80% the fee for Americans to formally renounce their U.S. citizenship.
After years of legal battles with several groups representing Americans wanting to give up their citizenship, the department on Friday published a final rule in the Federal Register that reduces the cost from $2,350 to $450.
The new fee, which took effect on Friday, had been promised in 2023 but had never been implemented. The cost is now the same as it was when the State Department first started charging Americans to formally renounce their citizenship in 2010.
That was not the expensive part. The expensive part is when they calculate the future taxes that they won’t receive and take a share of that. Edit: if you are above a threshold.