Gareth

Has anyone got any advice on the pitfalls of getting my UK pension funds over here
into my 401K.

I just got my I-485 approved and so I'm here to stay - as if having a new son was not
reason enough.......

I'm keen to tie up the loose ends and transfer the 6 years worth of pension
contributions over here.

Gareth

brianr

I'd like to know if this is possible too. I am paying into a new US pension now and it'd be nice to see if this was possible and how!

Brian.

Rete

Your source of information on rollover of a foreign IRA and/or 401K to a US one would be the investment firm handling the account and/or your human resource manager.

I know that when I recently changed employment I was not allowed to roll over my 401K to my new company and had to roll it over privately. Now that I am vested and have opened a new 401K with the new company, I cannot take the monies that had to be privated rolled over and transfer it to the new 401K plan.

I would suggest you call an investment firm like T. Rowe, Fidelity, or even your bank's investment officer for up to the minute information and advice on international transfer of IRA accounts.

Mrtravel

No, but there are other tax free things you can invest in.

brianr wrote:
    >
    > I'd like to know if this is possible too. I am paying into a new US pension now and
    > it'd be nice to see if this was possible and how!
    >
    > Brian.
    >
    > --
    > Visit our K1 web site: http://www.briansharon.com
    >
    > Posted via http://britishexpats.com

Jb

Gareth wrote:
    >
    > Has anyone got any advice on the pitfalls of getting my UK pension funds over here
    > into my 401K.
    >
    > I just got my I-485 approved and so I'm here to stay - as if having a new son was
    > not reason enough.......
    >
    > I'm keen to tie up the loose ends and transfer the 6 years worth of pension
    > contributions over here.

You should speak to your US provider. Knowing that many US companies (even banks)
tend to ignore the rest of the world I wouldn't be surprised to hear that it is
impossible. People who work in my own US bank are not even allowed to dial
international phone numbers!

Greg Van Westen

In my experience, given the choice - you really want to transfer into an IRA instead
of your companies' 401K. They work basically the same way in that the money grows tax
free. However, you will likely have a very limited selection of funds to invest in
with your 401K program. Typically you will have a choice of 8 - 15 different funds -
not very good. Your own self directed IRA has little restrictions on which funds you
can purchase. There is an annual limit on how much you can contribute however. You
should research both a Roth IRA and a Traditional IRA. You may wind up getting both.
My brokerage house of choice is Fidelity. Be careful - if you research some mutual
funds you really want, make sure your brokerage house sells them. I was with Merrill
Lynch and found their selection very limited. Much of my investments are self
directed since I'm very wary of 'investment counselors who I feel are truly motivated
by investment commission.

Greg.

"Gareth" <[email protected]> wrote in message
news:[email protected]...
    > Has anyone got any advice on the pitfalls of getting my UK pension funds over here
    > into my 401K.
    >
    > I just got my I-485 approved and so I'm here to stay - as if having a new son was
    > not reason enough.......
    >
    > I'm keen to tie up the loose ends and transfer the 6 years worth of pension
    > contributions over here.
    >
    > Gareth