Managing US IRA from the UK
Nov 2nd 2017, 4:25 pm
#31
Forum Regular
Joined: Mar 2017
Posts: 64
Re: Managing US IRA from the UK
I would recommend opening both a Traditional IRA and a Roth IRA while still in the USA.
This would give greater flexibility in tax management because you can do partial conversions to the Roth account. (I think this was described in the USA forum a couple of years ago).
I would also emphasise the importance of transferring the 401k funds to the IRA before leaving the USA.
My 401k custodian insisted that for any transfer they would send the funds in the form of a check to the address on file.
If a custodian did this to you whilst you were in the UK, I could see the 60 day rule being breached.
This would give greater flexibility in tax management because you can do partial conversions to the Roth account. (I think this was described in the USA forum a couple of years ago).
I would also emphasise the importance of transferring the 401k funds to the IRA before leaving the USA.
My 401k custodian insisted that for any transfer they would send the funds in the form of a check to the address on file.
If a custodian did this to you whilst you were in the UK, I could see the 60 day rule being breached.
Nov 2nd 2017, 6:16 pm
#32
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,446
