Residence status in the UK now I'm resident in the US

[GnG 0]

Can anyone give me information about UK residence status for ex-pats, or links to previous discussions?

Now that I'm a permanent resident in the US, I'm wondering if I need to do anything official to change my residence status in the UK.

Also, I'm wondering what I can do with money in my British bank account. Many British banks restrict investments to permanent UK residents. It seems like I'd have to choose between lying about my UK residence status or leaving my money idle in a checking account. (I could transfer it to a US account and invest it here, but I want to keep it in the UK.)

Thanks for any advice or suggestions!

[MissusM09 1]

congrats. well about the money you can always give it to me. i'll find a way of disposing of it. your best bet is to use something like caxton fx where you can transfer large amounts to any bank account. as for your residence status you have to inform the tax office of your move by filling out a form, and i will post the link here. this form will also give you a tax refund for the year 2009, effectively it informs them about your move, and permanence in the us. you will be given the option to keep your pension, which they will send you.

the link is

http://www.visajourney.com/forums/index.ph...1126&hl=tax

.

[Nich-Nick 3,354]

In addition to filing the P85 with the UK, you may also need to report your foreign bank account to the US government via the IRS on Form TD F 90-22.1.

The form is due in June of each year to report foreign bank accounts totaling $10,000 or more. Here is a link that explains it http://www.irs.gov/businesses/small/articl...=148849,00.html

As far as the investing rules, I would just inquire at individual banks what they allow. You do remain a British citizen even though you are taking up permanent residence in the US.

[inhopeofglory 0]

I'm going to be moving to the US in a few days, so I'll only have been in the US for a few months when that reporting deadline comes up - also, I won't technically be a "resident" until I get my Green Card, so do I have to report my UK accounts this coming June? The website isn't all that clear.