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Author: webby9999 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 74759  
Subject: Rollover IRA from non-US pension fund Date: 7/30/2001 11:34 AM
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I relocated to the US, from the UK, at the beginning of 2001 with my employer.
Prior to transferring I was paying into my employers pension plan. I have been trying to have these funds transferred into my 401K now that I am here in the USA.
My employer has now told me that this is not possible. So now I am investigating the opening of an IRA, into which I can transfer the funds from the UK.
I have established that I would need a CONDUIT (ROLLOVER) IRA in order to transfer the whole of the funds from the UK (greater than $2,000).
Does anyone know of any regulations that would prevent my rolling my UK fund into a US IRA?
Thanks for any help / assistance / advice,
Jim.
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 31055 of 74759
Subject: Re: Rollover IRA from non-US pension fund Date: 7/30/2001 11:59 AM
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Greetings, Jim, and welcome. You asked:

Does anyone know of any regulations that would prevent my rolling my UK fund into a US IRA?

An IRA may accept rollovers or transfers only from retirement plans that are qualified for U.S. taxation purposes. Your pension plan from the U.K. almost certainly does not qualify for that purpose unless it is a plan subject to U.S. laws and its distributions are subject to U.S. income taxes. For details on plans that are eligible for rollover/transfer to an IRA, see IRS Pub 575, Pension and Annuity Income, available for download at http://www.irs.ustreas.gov/forms_pubs/pubs.html.

Regards..Pixy


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