United States To Slash Fee For Renouncing Citizenship

The United States will drop the price for Americans looking to formally renounce their citizenship by more than 80 percent, a move welcomed by the "Accidental Americans" struggling with the US tax system. 

Consular fees for renouncing US citizenship will be reduced from $2,350 to $450 starting April 13, according to a notice in the Federal Register, the US



government's official journal.

The move reverses a 2015 price hike and returns the fee to the level when it was introduced in 2010. 

The decision was made after taking into account "the not insignificant anecdotal evidence regarding tax-related difficulties many U.S. nationals residing abroad encounter," according to the notice published on Friday.