And if you don't pay it/actually renounce the citizenship for a new one, you still have to report to the IRS; and they can still make you pay some taxes. All the banks are in on it, too, at least in EU countries, through international treaties (they call that bullshit "Mutual Collection Assistance Request Agreements"). I'm French and my own bank, despite me having nothing to do with the US, reminds me regularly with a popup that if I'm a US citizen (I'm not, thank god), I need to submit forms with the IRS. And they will comply with the US IRS if they ask for a money seizure on your accounts, due to the aforementioned treaties.
And if you don't pay it/actually renounce the citizenship for a new one, you still have to report to the IRS; and they can still make you pay some taxes. All the banks are in on it, too, at least in EU countries, through international treaties (they call that bullshit "Mutual Collection Assistance Request Agreements"). I'm French and my own bank, despite me having nothing to do with the US, reminds me regularly with a popup that if I'm a US citizen (I'm not, thank god), I need to submit forms with the IRS. And they will comply with the US IRS if they ask for a money seizure on your accounts, due to the aforementioned treaties.