Today the Treasury Department published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency (“expatriated”) during the fourth quarter of 2016.
The number of published expatriates for the quarter was 2,365, bringing the total number of published expatriates in 2016 to 5,411. The total for the year breaks last year’s record number of 4,279 published expatriates. The number of expatriates for 2016 is a 26% increase over 2015 and a 58% increase over 2014 (3,415). For a discussion of how the IRS compiles the data, see these posts: missing names, source of data.
The escalation of offshore penalties over the last 20 years is likely contributing to the increased incidence of expatriation.
We have created two graphs which reflect the latest expatriation data. The graph above is based solely on IRS data and shows the number of published expatriates per year since 1998. The graph below shows data going back to 1962 by incorporating State Department data. For the source of the State Department data, see this post.
Interestingly, Boris Johnson, the UK Secretary of State for Foreign and Commonwealth Affairs (and former Mayor of London), appears to be on the list. Also, Alexander Friedrich Antonius Johannes Von Hohenzollern, also known as Alexander, Hereditary Prince of Hohenzollern appears to be on the list.
For our prior coverage of expatriation, see all posts tagged Expatriation.