The annual financial review for Americans abroad

Why this belongs on the planning calendar

Residence, family location, employer benefits, custodian policies, treaties, and local law can change even when the household has not moved. The annual review is the place to refresh facts and test whether last year's assumptions still hold.

Cross-border decisions rarely sit in one professional lane. Tax residence, immigration status, account access, investment classification, estate documents, and family timing should be reviewed from the same fact pattern before anyone recommends a transaction.

Build the fact pattern first

Create a short written inventory before comparing solutions. Record the countries, dates, legal owners, account or asset type, relevant currencies, and the professional responsible for confirming each conclusion.

• Citizenship, residence, domicile, travel days, and expected moves
• Account access, asset allocation, currency needs, and concentrated positions
• Tax returns, FBAR, Form 8938, pensions, trusts, companies, and gifts
• Insurance, beneficiaries, wills, powers, and emergency contacts

Put the decisions in the right order

Begin with changes in people, countries, and dates. Review compliance next, then investment and cash-flow decisions, and finish with documents and action ownership.

Keep a decision log showing the assumption, source, owner, due date, and final action. Revisit it when residence, employment, ownership, or family circumstances change.

• Update the country-by-person map
• Reconcile the asset inventory to tax reporting
• Record the next twelve months of decisions and deadlines