Korean Expats in the U.S.

Korean residents who move to the U.S. — whether for work, study, business, or immigration — enter a completely different tax system.

The U.S. taxes worldwide income, requires extensive foreign asset reporting, and applies residency rules that differ sharply from Korea’s.

At the same time, Korea may still tax certain income or assets depending on your residency status, family ties, and property ownership.

Our Korean Expats in the U.S. service helps you understand your obligations in both countries, avoid double taxation, and structure your finances for long‑term efficiency.

Clients often ask:

• “When do I become a U.S. tax resident”
• “Do I need to report my Korean bank accounts or investments”
• “How do I report Korean rental income or pension contributions”
• “Do I still owe tax in Korea after moving to the U.S.”
• “What happens to my 국민연금 (NPS) or IRP”
• “Do I need to file FBAR or FATCA”
• “How do I avoid double taxation between the U.S. and Korea”
• “What if I send money to family in Korea — is that a gift”

These questions are extremely common — and the consequences of misunderstanding residency rules can be significant.

We help Korean expats navigate U.S. tax rules, Korean obligations, and cross‑border reporting.

✔ Determine Your U.S. Tax Residency Status

• Substantial Presence Test
• Green card residency
• Dual‑status year analysis
• Residency start/termination dates
• Treaty tie‑breaker rules

✔ U.S. Tax Compliance for Korean Expats

• Form 1040 (worldwide income)
• Schedule B, D, E for Korean income
• Form 1116 (Foreign Tax Credit)
• PFIC reporting for Korean funds (Form 8621)
• Self‑employment tax considerations

✔ Korean Income Integration

• Korean salary or business income
• Rental income from Korean property
• Dividends, interest, and capital gains
• 국민연금 (NPS), IRP, and private pensions
• Severance (퇴직금) taxation and reporting

✔ Foreign Asset Reporting Requirements

• FBAR (FinCEN 114)
• FATCA (Form 8938)
• Form 3520/3520‑A (foreign gifts or trusts)
• Form 5471/8865 (foreign corporations/partnerships)

✔ Avoid Double Taxation

• Apply U.S.–Korea tax treaty
• Determine primary taxing jurisdiction
• Coordinate foreign tax credits
• Sourcing rules for Korean income

✔ Planning for Long‑Term U.S. Residency

• Investment strategy (PFIC avoidance)
• Retirement planning (NPS vs U.S. accounts)
• Real estate planning (U.S. vs Korea)
• Gifting and inheritance considerations

We take a comprehensive, bilingual, cross‑border approach.

• Treaty‑aligned: We apply the U.S.–Korea treaty strategically
• Holistic: Residency, income, and reporting all work together
• Risk‑controlled: Avoid penalties and compliance traps
• Forward‑looking: Plan for future moves, green card status, and retirement
• Clear explanations: No jargon — you understand your obligations