I will be preparing (along with immigration counsel) a series of posts on this important topic over the course of the next two months.
There are a number of important legal differences between the two concepts of how one “sheds” their U.S. citizenship. Often times, most importantly for tax considerations, the question is “when” is the effective date that U.S. citizenship was terminated.
The following Department of State Forms can be reviewed here, which will be discussed in later posts:
Form DS-4079 Request for Determination of Possible Loss of United State Citizenship
This form focuses on facts and details that might lead to prior relinquishment of U.S. citizenship, as opposed to current renunciation.
Form DS-4080, Oath of Renunciation of the Nationality of the United States.
This form is rather self-explanatory.
Form DS-4081, Statement of Understanding Concerning the Consequences and Ramifications of Relinquishment or Renunciation of U.S. Citizenship.
More information to follow.