Big Beautiful Bill: Who Pays the 1% Tax?

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Ted Baumann answers your top questions about the new 1% tax on money transfers abroad — part of President Trump’s One Big Beautiful Bill that’s now been signed into law.

In his last video, Ted explained how this provision — originally proposed at 3.5% — could affect expats, green card holders, and anyone sending money overseas. Now he’s back with a clear, honest follow-up to tackle the real questions you’ve been asking, including:

✅ Who exactly does this tax apply to?
✅ Could US citizens get caught up in it by mistake?
✅ How will banks and transfer companies handle the reporting?
✅ Are there any practical ways to reduce the hassle?
✅ And what does this all mean if you’re living abroad or planning a move?

00:01 1% Tax Update & What It Means
03:55 Q&A: Your Top Questions

If you’re an expat, digital nomad, or investor moving money overseas, you’ll want to know exactly how this could affect you — and what you can do to prepare.

Stay informed. Stay prepared.
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