I am 58 years old and for the last 27 years have worked for an American pharmaceutical company overseas, in Ecuador. I am an Ecuadorian citizen, but still maintain my U.S. residence and will take an early retirement in August of this year. I pay income and social security taxes in both countries.Upon my retirement I had planned to roll over the lump sum of my retirement benefits into a qualified account such as 401K, however, my company has informed me that this cannot be done because I am on a foreign pension plan and will be taxed in the U.S. at a rate of 38.6%. Under my particular circumstances, is there any way of accessing to a qualified account or reducing my tax exposure, maybe through a 10 year forward averaging?Mario
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra