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Will I Be Subject To Any Loss Of Benefits If I Renounce My U.S. Citizenship?

Larry, thank you for helping so many people on this subject.
My question is, I learned I m not allowed dual citizenship and I have decided to renounce US , will I be able still to get my social security benefits when I renounced and I will be 62 years next year and I have been given till end of dec 2020 to renouce by Singapore government. I do qualify n have worked 25 years here in US.
Will I be subjected to any loss in reductions for renouncing as a foreigner once I I renounce.
I thank you for your feedback as I m confused by social security office n what I was informed, one said yes. The other said no because once renounce I do not have any social security number.
Rosemary

Hi Rosemary,

As long as you're eligible for benefits based on your own Social Security earnings history, you can continue to be paid benefits even if you're no longer a U.S. citizen and you're residing in Singapore. However, while living outside the U.S. you would be subject to an alien withholding tax which will result in the withholding of 25.5% of your benefits.

Best, Jerry

Category: 
Posted: 
Mar 2 2020 - 4:04pm
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