I'm Singaporean, working in the US — what do I need to know about US tax?
Short answer: A Singaporean who becomes a US tax resident — through a green card or the substantial presence test on an H-1B1, H-1B or L-1 — is taxed by the US on worldwide income. Singapore accounts, CPF, SRS, unit trusts and property become reportable, many Singapore funds become PFICs, and there is no treaty to soften the transition.
Written and reviewed by Anthony Walsh, Selanis. Last reviewed 2026-10-06.
Why it works this way
Singapore residents are used to no capital gains tax and no tax on most foreign income. The US is the opposite: dividends, interest, rental income and gains from anywhere are taxable, and foreign accounts above modest thresholds must be reported on FBAR and Form 8938.
Unit trusts, SGX ETFs and ILPs bought in Singapore usually become PFICs once you are a US person. The cheapest time to deal with them is before you become US tax resident.
Because Singapore does not tax capital gains, Singaporeans can often sell appreciated Singapore investments tax-free before their US residency start date — gains that would be taxable if sold afterwards.
The expensive mistake: Bringing a Singapore unit trust portfolio into US residency
The day you become a US tax resident, those funds become PFICs with annual reporting and punitive tax on later gains. Selling before the residency start date usually costs nothing in Singapore tax.
What to do
- Find your US residency start date — It depends on visa type, green card date and days present.
- Clean up before that date — Sell PFIC funds and realise Singapore gains while they are untaxed.
- Set up US reporting — Add Singapore bank, CPF and investment accounts to FBAR and Form 8938.