The law does not make dual citizenship illegal; it is merely a reporting requirement.
Federal Law No. 142-FZ on Amendment of Articles 6 and 30 of the Federal Law on Russian Federation Citizenship and Individual Regulations of the Russian Federation, which took effect on 4 August 2014, makes it a criminal offence for Russian nationals to conceal dual citizenship or long-term residence abroad.
It has been widely reported that American actor Steven Seagal has joined American boxer Roy Jones in becoming a citizen of Russia. By becoming Russian citizens, Mr. Seagal and Mr. Jones are now subject to Russia’s Currency laws, which include the requirement to report their non-Russian bank accounts to the Kremlin. Messrs Seagal and Jones may admire Russia. That said, it’s clear that the Kremlin admires the U.S. Treasury in general and Mr. FBAR – America’s most important citizen – in particular.
As you no doubt have heard on the news, the IRS recently announced that cyber thieves have gained access to over 100,000 taxpayers’ tax return information. According to a number of news sources, that breach has been traced to Russia.
The criminals did not actually gain access to IRS secure databases by hacking into the IRS computer system. Instead, they simply used an online tool provided by the IRS through which taxpayers are able to obtain transcripts of their previously filed tax returns. That service, called “Get Transcript,” is available to anyone who, with the correct information, can access an individual’s transcripts. The problem is this: the information needed to access “Get Transcript” is readily available from other online sources, which made it easy for the criminals to access a large number of taxpayer accounts. Read More
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