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Undergo an Interview: The consular officer will conduct an interview to confirm that your decision to renounce your U.S. citizenship is voluntary and that you understand the consequences of relinquishing your nationality. You will sign the oath of renunciation (Form DS-4080 and DS-4081).
Citizens of a country may renounce citizenship as a way of expressing philosophical differences, avoiding mandatory military service, becoming asylees or avoiding obligations of tax laws. The United States is no different.
If you renounce your U.S. citizenship and do not already possess a foreign nationality, you may be rendered stateless and, thus, lack the protection of any government. You may also have difficulty traveling as you may not be entitled to a passport from any country.
The biggest downside to renouncing for most people is that they no longer have access to the US job market. While some countries are opening up their immigration procedures, many developed countries are tightening them. If you arent a US citizen it will be very difficult, if not impossible, to get a job in the US.
What happens when you renounce or lose your U.S. citizenship No longer have rights and responsibilities as a U.S. citizen. But you may still be: Subject to tax payments. Eligible for Social Security benefits. Must become a citizen of another nation or risk becoming stateless May need a visa to return to the U.S.