US citizens are taxable worldwide, unlike the citizens of most other countries. That could now also meet the newborn son of Duchess Meghan and Prince Harry. Moment: US citizens? The two are part of the British royal family. But since the mother is a native American and is known about a cessation of citizenship, the US Treasury could soon be interested in the financial circumstances of the boy whose name is not even known.

If the Royal Baby also had US citizenship, it would be required to file a tax return with the US tax authorities each year. "If a parent is an American and has lived in the US for five years, of which at least two are from the age of 14, the baby is automatically a US citizen," says David Treitel of the American Tax Returns consulting firm. On Meghan Markle and her child to meet that probably - a premiere in the British royal family.

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The result: year after year Meghans and Harry's son must state his assets with the US tax authority IRS. If the royal parents have invested money to protect the future of their offspring, this must be reported to the Treasury. Even if the child should follow in Meghan's footsteps and become a movie star, all revenue would have to be stated.

Gifts must also be given

In the future, the IRS will know much more about the assets of the royal couple, Treitel says. This could well lead to problems - the assets of the couple and the baby can only be seen with difficulty isolated from the fortune of the royal house itself.

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Gifts about the child's birth may also have to be given to US tax officials if they have some value and are not from a US citizen. "Imagine, the Queen gives the baby a pretty art book from the Royal Collection, with paintings by Van Gogh or Miro, and if the gift is worth more than $ 100,000, it must be stated," explains Treitel. After all, for gifts that Meghan has received at her "Baby Shower" party in New York from American friends, that does not apply.

For the USA, it is nationality rather than place of residence

Even if it comes after the birth on Monday to the tax adviser of Meghan and her son time-consuming work: a lot of taxes, the two probably will not pay the US authorities. The claims could often be offset against tax payments in the UK, says Laura Sanders, tax expert for the Wall Street Journal.

The US Treasury's strict guidelines can have disastrous consequences even for Americans who leave the country at a young age and have no relation to it. Because since the adoption of the US tax law FATCA in 2010 is no longer the residence, but the nationality for tax liability crucial.

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If you refuse to file a tax declaration with the US authorities, you may have problems with your bank. The US authorities can then impose sanctions on the banks. They may refuse the customer the opening of an account or a mortgage.

Meghan could escape explanation by giving up her US citizenship. However, if her son had become a US citizen, he would still have to send tax returns to the United States until the age of majority.