American Expat's Money Guide: Ireland
Transfers, banking, and US + local taxes for Americans in Ireland. Currency: EUR.
The quick answer
- US tax treaty
- Yes
- Totalization (SS) agreement
- Yes
- Special expat tax regime
- SARP (Special Assignee Relief Programme)
- Bank account as a US citizen
- Yes
Local top marginal income-tax rate (headline): 40%. Effective rates depend on income, residency status, and any special regime. Figures here are general and can change — verify against current law before relying on them.
Informational only — not financial, tax, or legal advice. Cross-border tax is fact-specific; confirm with a qualified cross-border CPA or adviser before acting. Some links are affiliate links — we may earn a commission at no extra cost to you. Full disclaimer.
Cost of living vs. New York City
Ireland is about 29% cheaper overall
Typical 1-bed city-centre rent: $2,517/mo. Compare cost of living →
Approximate — Numbeo, NYC = 100, as of 2026-06.
1 Moving your money (USD → EUR)
USD→EUR is a high-liquidity, low-cost corridor; specialist FX services beat a bank wire's rate substantially on a relocation lump sum — but note a remittance into Ireland can be a taxable event for non-domiciled residents using the remittance basis.
See exactly what your amount costs across the mid-market rate, a typical bank, and a specialist — then send with the cheapest.
2 Banking as an American in Ireland
Irish banking is English-language and broadly accessible. Banks require photo ID (passport) plus proof of address — and for non-residents typically two proof-of-address documents. A PPS number isn't legally required to open an account but is commonly requested; as a US person you'll give your SSN for FATCA. Major banks (AIB, Bank of Ireland, PTSB) serve US persons. Verify current eligibility with each bank.
Local banks generally accept US persons under the FATCA agreement, though some are cautious about the extra reporting.
3 Taxes — the part everyone gets wrong
The US side (you still file)
- You file a US return on worldwide income. FEIE or the Foreign Tax Credit usually prevents true double taxation — which one wins depends on your income and local rates.
- FBAR (FinCEN 114) if your foreign accounts top $10,000 combined at any point in the year.
- FATCA (Form 8938) may also apply above higher thresholds.
The Ireland side
Ireland offers a special regime — SARP (Special Assignee Relief Programme). Ireland has no broad expat tax regime. SARP, for inbound assignees moving with their employer, was extended to 31 Dec 2030: 30% of employment income above a floor is exempt from Irish income tax, up to a €1m cap; the income floor rose to €125,000 from 1 Jan 2026, and USC/PRSI still apply to the relieved amount. Separately, the remittance basis lets Irish-resident-but-non-domiciled individuals be taxed on foreign income/gains only when remitted into Ireland — relevant for most arriving Americans, who are typically non-domiciled. Like the UK's FIG regime, both are Irish reliefs only and do NOT reduce US tax. Verify current rules on revenue.ie.
Where this gets people
- The headline 40% understates the real burden: USC (up to 8%) and PRSI (4.2% from Oct 2025) stack on top of income tax, pushing the marginal rate on higher earnings to about 52%.
- Irish/EU-domiciled funds and ETFs are a double trap — the IRS treats them as PFICs (punitive tax + a Form 8621 per fund), and Ireland separately taxes many funds under its own 41% 'exit tax'/deemed-disposal rules. Favor US-domiciled investments.
- The remittance basis only helps for Irish tax — as a US citizen you still owe US tax on that foreign income whether or not you bring it into Ireland, and a transfer into Ireland can itself trigger Irish tax.
- A "special regime" headline rate is not your effective rate — eligibility and exclusions matter a lot.
- State taxes can follow you abroad depending on the US state you left — don't assume you're done with them.
Cross-border tax is fact-specific and the penalties are real. A US-expat tax specialist handles FEIE/FTC, FBAR, and FATCA correctly.
Get expat taxes done with Bright!Tax →4 Investing & brokerage
US brokers sometimes drop customers with a non-US address. A broker that explicitly supports non-resident Americans is the standard fallback. Beware buying local (non-US) funds — PFIC (Passive Foreign Investment Company) rules make them a US tax nightmare.
Open an account with Interactive Brokers →5 Healthcare & insurance
Legal residents generally gain access to Ireland's public health system, but there's usually a gap before residency and coverage kick in. Many new arrivals and nomads bridge the gap with international coverage.
See SafetyWing coverage →6 Common residency routes
Your residency route determines your tax residency and bank access — they're connected.
Frequently asked questions
Do Americans living in Ireland still have to file US taxes?
Yes. US citizens file with the IRS on worldwide income no matter where they live. The US–Ireland tax treaty and tools like the Foreign Earned Income Exclusion (FEIE) or the Foreign Tax Credit usually prevent true double taxation, but you still must file. This is general information, not tax advice.
Do I need to file an FBAR if I move to Ireland?
If your foreign financial accounts add up to more than $10,000 at any point in the year, you generally must file an FBAR (FinCEN Form 114). Many expats also have FATCA (Form 8938) obligations. Penalties for missing these are steep — confirm your situation with a cross-border professional.
What's the cheapest way to move money to Ireland?
For a relocation lump sum, the cost is almost entirely the exchange-rate spread, not the visible fee. Banks commonly bury 1–3% in the rate. Compare your specific amount with the transfer cost tool before sending.
Can I keep my US brokerage account after moving to Ireland?
Some US brokers restrict or close accounts once you have a non-US address. A broker that explicitly supports non-resident Americans is the common fallback. Don't change your address until you've confirmed your broker's policy.
Data last verified 2026-06-04. Primary source: official reference.
Informational only — not financial, tax, or legal advice. Cross-border tax is fact-specific; confirm with a qualified cross-border CPA or adviser before acting. Some links are affiliate links — we may earn a commission at no extra cost to you. Full disclaimer.