What US tax is due if I own US assets when I die?

[Gordon Gekko]

In any case, whatever about the legal obligations, there must be many people holding US outside the US who just ignore this completely and I can't imagine the IRS trolling through share registers to to collect a meagre amount of tax - I think my € 15,000 holdings in Microsoft are pretty safe and most unlikely to be reported to the IRS

That’s below the $60,000 threshold.

 

[Gordon Gekko]

What about shares in US companies where you hold an ETF which is invested in US companies eg S&P 500 ETFs?

That depends where the ETF is itself domiciled. If it’s US, you’ve an issue. If it’s, say, Ireland, there’s no issue.

 

[Bluefin]

So we all agree that if you hold US assets that we have an issue if you die unexpectedly with estate tax payable to US..

If you liquidate your holdings your money will be subjected to CGT in Ireland and then potentially inheritance tax when you pass on your assets..

What's the solution?

 

[RickyJ]

So we all agree that if you hold US assets that we have an issue if you die unexpectedly with estate tax payable to US..

If you liquidate your holdings your money will be subjected to CGT in Ireland and then potentially inheritance tax when you pass on your assets..

What's the solution?

Very interesting thread. I would be interested in knowing what the possible solutions are. My thoughts have always been to leave the shares well alone, keep filling in the tax forms that Merril Lynch send my Father and pay the Estate Tax in the US on his death. If there is a better option to consider, where would we get this type of advice from?