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 first quarter of 2020.
The number of published expatriates for the quarter was 2,909, which is the highest quarterly number ever. The only previous quarter to come close to this amount was the fourth quarter of 2016, for which there were 2,365 published expatriates.
The two quarters preceding the current quarter (the third and fourth quarters of 2019) had remarkably low numbers. The total number of published expatriates for the entire year of 2019 was only 2,072. The number for the current quarter is 40% higher than for the entire year of 2019. This difference makes one wonder whether some of the current quarter names belong in the prior quarters. The 8-quarter moving average reflects roughly 1,000 names per quarter.
See the chart below for the quarterly expatriates from 2010 to the first quarter of 2020.
For our prior coverage of expatriation, see all posts tagged Expatriation.