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US Expat Planning

Being an American, I have first-hand experience of financial planning, investing, and guiding others through the financial requirements. It isn't cheap and it isn't easy, but it's well worth it to keep you out of trouble with the IRS.

One big problem in NZ, is that most NZ advisers are unaware of these obligations and requirements that Americans have. This means most Americans in NZ that receive financial advice, are getting advice that can cost them dearly in the long-run (E.G. more than $10,000 per foreign account). You can test this by asking an adviser what the implications are of having a KiwiSaver for a US-person, and if they say "nothing", they are wrong.

The other problem is that for the few advisers that do understand the implications (I believe there are only 4 in NZ), most are not able to provide any advice or education on the US-side of investing/tax. That means Americans in NZ won't get any guidance around RMDs, capital gains, US retirement accounts or anything else.

US citizens and expats in NZ are constantly left with an incomplete picture or are not able to get a 'full' financial plan. 

Why special planning for Expats?

It's easy to assume that a US citizen that moves to NZ, just has to invest like anyone else in NZ, but that's not the case. Not only are there potentially punitive taxes, there are also extra tax filings (E.G. 5471, 8621, 3520, 8938, FBARs - just to name a few), which can lead to the fines mentioned above. Someone can't just use Turbotax like they did in the US because it requires special tax-planning. Additionally, there are ways of investing that have implications that can further complicate the taxes (IE holding ETFs and funds in a NZ account)

It's also common for US Citizens to come to NZ and be left with no financial advice surrounding their US assets/ retirement accounts. No NZ-based advisers are registered with FINRA (in the US) and wouldn't be able to speak through the intricacies of the US system. This is where, me, being an American is an advantage. I have worked on both sides of the Pacific, helping people planning for their retirements, so I can speak to the requirements in greater depth than most, and it doesn't require a huge asset base, so the fees are much more reasonable and fair.

Schedule a free discovery meeting with me to see how I can assist.

Ph: 021 670 770


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