formfill1

The accounts holding my pension funds in the USA have been frozen as I don't have a US address.

I had opened a traditional IRA with the company holding the 401k (Fidelity), and had transferred the funds to this IRA. I converted a small portion of these funds to a Roth IRA that I had opened at the same time as the traditional IRA.

Now Fidelity say that the accounts are frozen unless I make proof of a US address.
They will not even let me transfer between my own funds internal to them.

So to get any money from the funds it looks as though I would have to close the account. This would mean losing the benefit of the pension fund and also result in a unnecessary large tax bill.

Does anyone know of any other options open to me?

I am a UK citizen and resident.

Pulaski

Get a US mail box either from the UPS Store, or a US Post Office - both now allow you to use the "street address", though I would still lean towards using a UPS Store as they don't have unique Post-Office-only zip codes. Then use "Apt #", not the box number.

So the address you would use would be something like "234 College Blvd, Apt 1705, White Plains, NY 10595." So long as the location isn't around the corner from the investment manager's office, it is highly unlikely that anyone would notice that your apartment is about 4"×6"×12".

The fees for using the box will depend on how often you want the contents forwarded to you, as that is an add-on service.

PetrifiedExPat

Incredible solution!!

branmin

Brilliant Pulaski........................can one do the same in the UK?

MidAtlantic

When they ask for a utility bill for proof of address, what then?

mrken30

We've had people rent an apartment for a few months, just for this purpose.

Pulaski

I have never been asked for proof of address when only changing address. .... In any case US institutions will take more or less anything received at an address as "proof", even a postcard sent to yourself, so it would be easy enough to solicit some sort of mail with your address on it - even some sort of request to a utility company, such as a request for information on services.
That was where I first came across the technique - at a Mailboxes Etc, just around the corner from Buckingham Palace. .... "Ooooh, that's a swanky address" I thought. .... Then I discovered the truth.

mrken30

With E-Trade, I have previously had to send a copy of my drivers license. In order to get my drivers license I had to show proof of residency which included a utility bill. Admittedly Fidelity may have different rules, but they are sure to have a list of acceptable documents.

My ML 401K rollover application form just had to be notarized. My address information was confirmed through my bank statements. ML told me the requirements vary by employer on what information is needed, but I doubt this is true.

Pulaski

For a change of address?
So that's a new account and not what the OP is asking about.

My original advice was specific to changes of address for existing accounts. It would be much harder to finagle an address for a new account, though not, I suspect, impossible.

You should be able to go on line and edit your address. I once had an account with a US bank that prohibited PO Box addresses, their online system simply wouldn't accept "PO Box" in the address field. .... It did however accept "P0 Box", which was the address they sent my mail to for several years!

mrken30

With ML ,I have not changed my address, this is just to carry out transactions on my account.

Change of address I have to submit by mail with E-Trade, again being notarized. This is because my former employer, operates in community property States , I am assuming.

I just looked to see if I could change my Fidelity account online. I have to go through my employer to change both legal/residential address and my mailing address.

Pulaski

I never ceases to surprise me how difficult it is being MrKen.

mrken30

I don't move very often. I only know about the 401k thing because I am in the process of rolling over into an IRA. It's not something I do very often fortunately. This is my second attempt at the rollover, my last form expired because I couldn't make up my mind to rollover into IRA or new employer's scheme.

This thread did prompt me to get it sorted out sooner rather than later.

Thanks OP

petitefrancaise

If you do need to use a mailbox service but don't want to put a PO box number in the address field, then write your last name on a sticky label and put that on the outside of the mailbox to make sure that your mail is put into the correct box

Cook_County

Fidelity have been closing accounts for non-US residents for at least a couple of years; it's surprising to hear yours still exists...

formfill1

Many thanks for all the replies.

Unfortunately, the useful idea of using a mailbox will not work in this case as Fidelity has already said that they would need proof of address such as a utility bill.

Could you give me more information about how you went about renting an apartment, so as to give me an idea if it will be practicable in my situation.


What would happen if the account was closed? Would they send me a dollar cheque to the UK?