USA MRE: complete 2026 credit, banking, transfer and return guide

Any "US Person" (citizen, green card holder, fiscal resident) holding a Moroccan bank account with aggregate balance > 10,000 USD at any point in the year must file the FBAR (Foreign Bank Account Report, form FinCEN 114) before April 15 (automatic extension to October 15). Penalties are among the world's most severe: civil fines up to 10,000 USD per non-willful violation, up to 100,000 USD or 50% of account balance for willful violations. FATCA (Foreign Account Tax Compliance Act) requires Moroccan banks to automatically report US Persons' accounts to IRS since 2015 via the Morocco-USA bilateral agreement. Result: no possibility to hide a Moroccan MRE account from American tax authorities.

For an MRE holding a green card wishing to return definitively to Morocco, extended absence (> 1 year) can trigger automatic loss of permanent resident status. Two options: (1) voluntarily abandon the green card via USCIS form I-407, releasing from future IRS tax obligations but potentially triggering Exit Tax (15-40% on unrealized capital gains if "covered expatriate" with > 2 M USD patrimony or high income), or (2) keep the green card with regular back-and-forth travel, maintaining FBAR/FATCA/worldwide declaration obligations. For naturalized US citizens, renouncing citizenship is more complex (2,350 USD fee + potential Exit Tax). A US tax attorney is imperative before any choice.