Just as a reminder to my readers that have already activated their LPR status. At this time of year you have a responsibility to file a tax report (tax return). This is due if you were an LPR for even ONE DAY in 2016. The responsibility is to file a tax report (and of course pay any taxes due). Remember, the USA demands tax reporting of income earned anywhere in the world, so even though you may not have income tax to pay, you still need to go through the process to file a report or work out if you are exempt.
Additionally, there is an annual report called the FBAR report on any “foreign” financial account (such as a bank account) that you had during the year. There is a threshold of $10,000 so if you held an account of over that amount (or that amount spread in several accounts) you need to file an FBAR. The form is simple, and can be completed and filed online. The penalties for NOT filing are big, so take 10 minutes to fill in the form! Link is here – FBAR
I am NOT an accountant, so I cannot help answer individual questions on tax matters. I am just reminding people!!!