Pulaski

No difference. If it is a bona fide pension account in the UK it is protected under the tax treaty.

mrken30

Confirm with your pension company that it is an insured contract based plan

plowe2

Hi mrken30

Pensions wise UK government service states that Under section 226 they are all insured contract based plans so I guess that If it is a bona fide pension account in the UK and it is protected under the tax treaty. TXs

mrken30

There are trust based and contract based. This link helps explain the difference.

Defined contribution and money purchase schemes - Company pensions explained - Retirement - Which? Money

If it is contract based, you life is easier as this is covered under the treaty.

plowe2

Hi mrken30,
Txs for the update but your link is for Company pensions explained
My plan was actually an old plan from the 80s called a personal pension plan (retirement annuity contract) section 226 - self employed to complicate matters.
txs

mrken30

I personally ask a US/UK tax adviser as your pension is not the more common company DC pension if you are still unsure. These are the people I spoke to to get tax advice. There are others.

Helena Turner | Associate Director | US Tax and Financial Services Limited
Magdalen House, 136 Tooley Street, London SE1 2TU
Tel: +44 (0) 207 357 8220

plowe2

Hi,
another dumb question Does a UK mortgage have to be reported on the FBAR. It is a debt.
txs

mrken30

the other question to that, do you subtract your debt from your assets?

Pulaski

No.

plowe2

House is a rental property and I always make a loss

plowe2

and is declared as such