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What "entitlements" does a U.S. citizen who emigrates still receive?
If a person emigrates from the U.S. to another country, will he/she still be entitled to benefits he/she paid into while a U.S. citizen?
For example, Social Security or Medicare benefits at retirement age? Military retirement pay or Veteran's benefits? IRA or 401K accounts (esp w/o paying penalties for transferring the assets to the new home country)?
Does the age when a person emigrates make a difference?
3 Answers
- Anonymous9 years agoFavorite Answer
A lot depend on the country you move to ..what agreements are in force at the time
every item you mention may be different
- Jim BLv 79 years ago
The USA is one of the FEW countries in the world that insists that their citizens pay US taxes , every year, regardless of WHAT country they may live in. Failure to so so may result in a criminal case, brought by the IRS.
You really NEED to look hard at this move, before you DO it. Research and more research, my friend.
You might want to find the website, escape from america, which gives good info about various countries that are cheaper to live in, with a US income source. Costa Rica is one of them.
Tax evasion is a crime, but minimizing your tax burden is not. Shelters and good money management are the key.
Jim B
Toronto.
- Anonymous9 years ago
I'm not sure, but yeah you still get Social Security,etc.
When some immigrates to another country and works there they still pay taxes and that money goes into your Social Security,etc.
I know a lady that gets pay and she lives in Mexico. She comes every two months just to the USA to get her check.