Yes. The United States taxes its citizens and permanent residents on worldwide income, regardless of where they live. If you are a U.S. citizen or green card holder, you are required to file a U.S. federal tax return every year, even if you pay foreign taxes and earn no income in the U.S. There are mechanisms such as the Foreign Earned Income Exclusion and Foreign Tax Credit that often reduce or eliminate your U.S. tax liability, but the filing obligation remains. I can handle your annual filing from start to finish, so you stay compliant without the stress.

FBAR stands for Report of Foreign Bank and Financial Accounts (FinCEN Form 114). You must file if the aggregate value of all your foreign financial accounts combined exceeds $10,000 at any point during the calendar year. For most U.S. residents in Switzerland, this threshold is easily crossed. The FBAR is filed separately from your tax return, directly with the U.S. Treasury, and the penalties for non-compliance can be severe. I ensure your FBAR is filed correctly and on time, alongside your annual return.

The U.S.-Switzerland tax treaty helps prevent double taxation on certain types of income, including dividends, interest, and pensions. However, it does not eliminate your U.S. filing obligation, and its interaction with Swiss tax law is nuanced, particularly for Swiss pensions, pillar 2 and 3a accounts, and investment income. Proper treaty analysis is essential to ensure you are claiming the right benefits without inadvertently triggering U.S. tax on income you assumed was protected. I provide full treaty analysis as part of every engagement, ensuring you claim every benefit you are entitled to.

You are not alone. Many Americans abroad discover their filing obligations only after several years of non-compliance. The IRS offers the Streamlined Foreign Offshore Procedures, a programme specifically designed for non-wilful non-filers living abroad. It allows you to catch up on three years of tax returns and six years of FBARs, typically with no penalties. Acting proactively is strongly advisable before the IRS contacts you first. I guide clients through the Streamlined Procedures regularly and it is a manageable process with the right support.

Swiss pillar 2 and pillar 3a accounts are not automatically treated as tax-deferred under U.S. law in the same way as a 401(k). Their treatment depends on treaty analysis, the structure of the plan, and how contributions and earnings are reported. Getting this wrong can result in unexpected U.S. tax liabilities, and specialist advice is strongly recommended. This is an area I handle frequently for Swiss-based clients, and where specialist advice pays for itself many times over.

FATCA, the Foreign Account Tax Compliance Act, requires foreign financial institutions including Swiss banks to report information about accounts held by U.S. persons to the IRS. In practice, this means your foreign bank almost certainly reports your account to U.S. tax authorities. FATCA does not create an additional tax obligation for you directly, but it does mean the IRS has visibility into your foreign accounts, making compliance all the more important. I help clients understand their FATCA exposure and ensure their reporting is complete and consistent.

Yes, but it requires careful planning. Renouncing U.S. citizenship is an irreversible decision with significant tax consequences. If you are a covered expatriate, broadly someone with high net worth or high average annual tax liability, you may be subject to an exit tax under Section 877A, which treats your worldwide assets as if sold on the day before expatriation. Pre-expatriation planning is often essential to reduce your exposure. If you are considering renunciation, I strongly recommend a dedicated planning consultation before taking any steps.