U.S. Tax Obligations
Understand how U.S. federal taxation may continue to affect Americans living overseas.
MRA Advisory Group / International Wealth Planning
Your Life Is in Europe. Your Financial Future Is Still Connected to the United States.
A Comprehensive Financial Planning Guide for Americans Living in Europe.
Living in Europe can offer extraordinary lifestyle opportunities—but managing your financial life across international borders can introduce important complexities. From U.S. tax obligations and investment restrictions to retirement income, currency exposure, estate planning, and family protection, financial decisions made in one country can affect your future in another. Discover the essential financial planning considerations every American living in Europe should understand.
MRA Advisory Group
The Financial Planning Guide for Americans Living in Europe
Taxes • Investments • Retirement • Estate Planning
Why Cross-Border Financial Planning Matters
Two Financial Systems. One Financial Future.
Living in Europe does not automatically eliminate your U.S. financial responsibilities. American citizens generally remain subject to U.S. federal income-tax rules even while living abroad. At the same time, establishing tax residency in a European country may create additional reporting obligations, investment restrictions, and retirement planning considerations. Without a coordinated strategy, decisions involving taxes, investments, retirement accounts, property, and estate planning may create unintended consequences.
European Tax Residency
Explore how local residency rules may affect worldwide income, investments, and financial reporting.
Investment Restrictions
Understand why U.S. brokerage accounts, ETFs, and investment products may require special consideration when living in Europe.
Retirement Planning
Learn how Social Security, IRAs, pensions, and retirement withdrawals fit into international retirement planning.
Currency Management
Explore the implications of earning, investing, and spending in different currencies.
Estate Planning
Understand how inheritance laws, beneficiaries, citizenship, and international assets can affect family wealth.
What’s Inside the Guide
Everything You Need to Know About Managing Your Financial Life in Europe.
This comprehensive guide introduces the financial planning considerations Americans should evaluate before relocating to Europe and throughout their lives abroad. European countries are treated as distinct jurisdictions throughout—tax laws, investment rules, and retirement treatment are not uniform across the continent.
Preparing Your Financial Life for Europe
Financial considerations before relocating, establishing European residency, U.S. and European banking relationships, emergency reserves, budgeting in euros, pounds, Swiss francs, or other currencies, managing international transfers, and maintaining access to U.S. financial institutions.
Understanding U.S. Tax Obligations Abroad
U.S. citizenship-based taxation, worldwide income reporting, the Foreign Earned Income Exclusion, Foreign Tax Credit, Foreign Housing Exclusion or Deduction, FBAR and FATCA reporting, Form 8938, PFIC considerations, and coordinating U.S. and European tax professionals.
European Tax Residency and International Tax Treaties
Understanding tax residency, country-specific residency rules, applicable U.S. income-tax treaties, treaty saving clauses, potential double taxation, Foreign Tax Credits, and country-specific reporting requirements.
Managing U.S. Investments While Living in Europe
Maintaining U.S. brokerage accounts, residency restrictions, U.S.-domiciled ETFs, European UCITS funds, PRIIPs disclosure requirements, potential PFIC consequences of non-U.S. funds, asset allocation, currency diversification, and tax-efficient portfolio construction.
Retirement Planning in Europe
U.S. Social Security, Traditional and Roth IRAs, 401(k) accounts, U.S. pensions, Required Minimum Distributions, withdrawal strategies, European pension arrangements, applicable Social Security Totalization Agreements, and Medicare limitations outside the United States.
Currency and International Cash Flow Management
U.S. dollar versus euro, British pound, and Swiss franc exposure, exchange-rate volatility, conversion costs, international transfers, managing expenses in local currency, emergency reserves, and currency diversification.
International Estate Planning
U.S. federal estate tax, citizenship and domicile considerations, U.S. estate-tax exposure for non-U.S.-citizen spouses, cross-border inheritance, beneficiary designations, international wills, trust considerations, European inheritance taxes, and forced-heirship rules where applicable.
Insurance and Health Care Planning
Health insurance while living in Europe, public and private health care systems, Medicare coverage limitations abroad, life insurance, disability protection, long-term care, and family financial protection.
Property Ownership and International Business
Purchasing European real estate, maintaining U.S. property, rental income, property-related taxes, international mortgages, foreign and U.S. business ownership while abroad, and cross-border succession planning.
Your International Financial Planning Checklist
A practical checklist for what to review before moving, during the first 90 days, throughout the first year, and annually as residency, tax, investment, and estate circumstances evolve.
Chapter 10
Your International Financial Planning Checklist
Before Moving
- Review tax residency considerations
- Evaluate investment account access
- Review retirement accounts
- Review health insurance
- Review estate planning
- Establish banking arrangements
First 90 Days
- Confirm applicable residency and reporting requirements
- Review cash reserves
- Evaluate currency exposure
- Coordinate with tax professionals
- Review insurance coverage
First Year
- Review investment allocation
- Evaluate retirement income planning
- Confirm financial reporting obligations
- Review beneficiaries
- Update financial planning assumptions
Annually
- Coordinate U.S. and local tax planning
- Review investment restrictions
- Reassess retirement projections
- Review insurance
- Update estate planning
- Rebalance investments as appropriate
The European Investment Challenge
Investing From Europe Isn’t Always as Simple as Keeping Your U.S. Brokerage Account.
Americans living in Europe may encounter investment challenges that are less common for U.S. residents. Certain financial institutions restrict services for clients residing overseas. European investment product regulations may limit access to some U.S.-domiciled investment funds, while certain European investment products can create unfavorable U.S. tax-reporting consequences. Understanding how these rules interact is an important part of building a coordinated international investment strategy.
U.S. CITIZENSHIP
EUROPEAN RESIDENCY
INVESTMENT PRODUCT RESTRICTIONS
TAX AND REPORTING CONSIDERATIONS
COORDINATED INVESTMENT STRATEGY
Investment availability and tax treatment depend on residency, financial institution policies, product characteristics, and individual circumstances.
Retirement In Europe
Retire in Europe Without Losing Sight of Your U.S. Financial Future.
Retirement in Europe can provide an appealing lifestyle, but financial planning becomes more complex when retirement income originates in one country and living expenses occur in another. Social Security, retirement accounts, pensions, taxes, health care, and currency exposure should be evaluated as parts of one coordinated financial plan.
Social SecurityTraditional & Roth IRAs401(k) PlansPensionsInvestment Portfolios
INTERNATIONAL RETIREMENT STRATEGY
TaxesCurrencyHealth CareLiving ExpensesEstate Planning
YOUR RETIREMENT GOALS IN EUROPE
International Estate Planning
Your Assets May Cross Borders. Your Estate Plan Should Account for Them.
International families may own assets in multiple countries, hold different citizenships, and have beneficiaries living in different jurisdictions. These circumstances can introduce important estate planning questions involving inheritance laws, estate taxes, beneficiary designations, property ownership, and the administration of an estate. A coordinated approach can help identify potential conflicts and clarify the responsibilities of financial, tax, and legal professionals.
CITIZENSHIP & RESIDENCY
ASSET LOCATION
ESTATE & INHERITANCE RULES
COORDINATED LEGACY PLANNING
Free Download
Get Your Complimentary Financial Planning Guide for Americans Living in Europe.
Whether you’re preparing to relocate, already living abroad, or planning retirement in Europe, understanding how your financial decisions connect is an important first step. Complete the form below to receive your complimentary guide.
Downloading the guide does not sign you up for marketing emails. By submitting the form you agree to MRA’s Privacy Policy. If you are located in the European Union, additional data protection rights may apply under the General Data Protection Regulation (GDPR); see the Privacy Policy for details. This guide is educational only and is not individualized financial, tax, or legal advice.
About MRA Advisory Group
Financial Planning That Connects Your Life in Europe With Your Financial Future in America.
MRA Advisory Group believes that every financial decision is connected. For Americans living abroad, that means evaluating investments, retirement accounts, taxes, insurance, estate planning, and family priorities as parts of one coordinated financial picture. Our approach is designed to help clients understand how financial decisions in one country may affect their goals in another. We coordinate with qualified tax, legal, and other professionals when specialized international expertise is needed.
MRA Advisory GroupOne financial life. Multiple countries. A connected approach.+1 844.672.7623Explore Financial Advisor for ExpatsFrequently Asked Questions
Clear Answers Before the First Meeting.
Do Americans living in Europe still have to file U.S. taxes?+
U.S. citizens generally remain subject to U.S. federal income-tax filing requirements based on worldwide income, even while living abroad. Available exclusions, credits, and treaty provisions depend on individual circumstances.
Can I keep my U.S. brokerage account while living in Europe?+
Account availability and permitted transactions depend on the financial institution, account type, residency, and applicable regulations. Some institutions restrict services for clients residing outside the United States.
Can Americans living in Europe invest in U.S. ETFs?+
Access to certain U.S. investment products may be restricted under applicable European product-disclosure rules or financial institution policies. The answer depends on the investor’s jurisdiction, classification, and circumstances.
Are European investment funds suitable for U.S. citizens?+
Some non-U.S. investment funds may create complex U.S. tax-reporting requirements, including potential PFIC treatment. Professional review is important before investing.
Can I receive U.S. Social Security benefits while living in Europe?+
Many eligible beneficiaries can receive U.S. Social Security benefits while living abroad, subject to applicable rules and individual circumstances.
Can I withdraw money from my IRA while living in Europe?+
Generally, eligible distributions may be made from U.S. retirement accounts while living abroad, subject to account restrictions, U.S. tax rules, and potentially local tax requirements.
Do U.S. tax treaties eliminate double taxation?+
Tax treaties may help address certain cross-border tax issues, but they do not automatically eliminate all double taxation. Treaty provisions, saving clauses, and individual circumstances must be evaluated.
Does MRA prepare European tax returns?+
MRA provides financial planning and investment advisory services within its authorized scope and may coordinate with qualified tax professionals. MRA does not prepare European tax returns.
Is the guide free?+
Yes. The guide is complimentary and intended for educational purposes.
How can I schedule a consultation?+
Visitors can schedule an introductory conversation with MRA Advisory Group using the scheduling link on this page.
MRA Advisory Group
Your Life Is in Europe. Your Financial Future Deserves a Connected Plan.
Living abroad creates new opportunities and new financial decisions. Whether you’re managing U.S. investments, planning retirement, navigating international taxes, or protecting your family’s future, understanding how these decisions connect can help you plan with greater confidence. Start with the guide. Continue the conversation when you’re ready.
MRA Advisory Group is a Registered Investment Advisor. This page and the accompanying guide are provided for general educational and informational purposes only. They do not constitute individualized investment, tax, or legal advice, and they are not a recommendation to buy, sell, or hold any security or to pursue any particular strategy. Not every American living in Europe is necessarily eligible for MRA’s services, and MRA is not licensed or authorized to provide regulated investment advisory services in every European jurisdiction. Not every U.S. investment product is automatically available to European residents; availability depends on the financial institution, account type, applicable regulations, and individual circumstances. European countries have different tax systems, and this material does not describe a single European income-tax regime or suggest that any tax treaty eliminates all double taxation. This material does not guarantee any investment outcome or tax result. MRA does not provide tax or legal advice and works alongside qualified tax, legal, and other professionals when that expertise is needed. MRA does not maintain offices in European countries.
Review MRA’s Form ADV Brochure , Form CRS, and Privacy Policy for additional information. This material is subject to compliance review before publication.