Using 401k/IRA to meet spousal savings requirements
#1
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Joined: Jan 2017
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Using 401k/IRA to meet spousal savings requirements
Has anyone been successful in using a 401k/IRA account to meet the UK spousal visa saving requirements.
Not sure if funds in a US account is acceptable and if in a 401k/IRA whether would need to be liquidated.
Thanks,
David
Not sure if funds in a US account is acceptable and if in a 401k/IRA whether would need to be liquidated.
Thanks,
David
#2
Re: Using 401k/IRA to meet spousal savings requirements
It has to be accessible funds in a bank account, so you're looking at around a 40% tax hit on the value of your 401k to get it liquidated and into a bank account, and then hold it for six months, to meet the requirements for a UK spouse visa.
#3
Re: Using 401k/IRA to meet spousal savings requirements
Just saying.
Last edited by Novocastrian; Feb 17th 2017 at 3:42 pm.