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Search: Posts Made By: colin_w
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Forum: USA
Aug 29th 2014, 4:36 pm
Replies: 43
Views: 2,688
Posted By colin_w

Smile Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Nah. Just attempting a little humour... maybe it doesn't come through in a text-based medium... I'm very happy with all the pointers! Thanks again!
Forum: USA
Aug 29th 2014, 3:35 pm
Replies: 43
Views: 2,688
Posted By colin_w

Smile Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Thanks! I have stepped away from the keyboard. I fact I am typing this using a long bamboo stick that I borrowed from the garden. ;)
Forum: USA
Aug 29th 2014, 1:51 pm
Replies: 43
Views: 2,688
Posted By colin_w

Lightbulb Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Thanks! Actually the reason the UK Pension Transfer LLC site looked interesting to me is their claim:

"If you are a member of a UK occupational scheme it is entirely possible that, instead of the...
Forum: USA
Aug 28th 2014, 2:35 pm
Replies: 43
Views: 2,688
Posted By colin_w

Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

BTW, anyone had any interaction with this outfit:

UK Pension Transfer LLC for Frozen UK Pensions and British Pension Transfers UK (http://www.ukpensiontransfer.com/)

??? It came up in a Google...
Forum: USA
Aug 28th 2014, 1:03 pm
Replies: 43
Views: 2,688
Posted By colin_w

Smile Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Thanks! In my case I'm "a national and a resident of the territory" ('N & R' in the table notation) so it looks like the relief is available if the forms discussed above are completed. Yeah!
Forum: USA
Aug 28th 2014, 12:57 pm
Replies: 43
Views: 2,688
Posted By colin_w

Talking Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Thanks! I re-read the whole thread and now it's clear. (My confusion was caused because I wrote "deposit GBP" when I thought I had written (or meant to write) "deposit the value of GBP (in dollars)"...
Forum: USA
Aug 28th 2014, 1:40 am
Replies: 43
Views: 2,688
Posted By colin_w

Unhappy Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

...Thanks... I see it now... I did some more Googling on QROPS and found this at http://www.ukpensiontransfer.com/faq:

"Can I import my UK frozen pension fund to USA and add it to an IRA or 401K...
Forum: USA
Aug 28th 2014, 1:29 am
Replies: 43
Views: 2,688
Posted By colin_w

Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Yes, thanks. I think that's related to the thing I read. Just curious, why is it a dead end?
Forum: USA
Aug 28th 2014, 1:25 am
Replies: 43
Views: 2,688
Posted By colin_w

Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Now I'm really confused. Are you saying:


US banks will/won't convert sterling received to USD?
UK payers are/aren't willing to convert sterling to USD at source?
It's not possible to...
Forum: USA
Aug 28th 2014, 1:03 am
Replies: 43
Views: 2,688
Posted By colin_w

Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

I read somewhere that there was a tax treaty that allowed it, but I could be wrong.
Forum: USA
Aug 27th 2014, 11:51 pm
Replies: 43
Views: 2,688
Posted By colin_w

Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Hmmm... My account is a regular USD denominated one. If they were to receive Sterling funds, wouldn't they just convert them to dollars and deposit those? Anyone cracked this problem?
Forum: USA
Aug 27th 2014, 10:29 pm
Replies: 43
Views: 2,688
Posted By colin_w

Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Thanks! Does the UK payer require that I send them an IRS 6601 Residency Certificate every year in order to avoid being taxed at source? Or is the certification a one-time deal?
Forum: USA
Aug 27th 2014, 8:46 pm
Replies: 43
Views: 2,688
Posted By colin_w

Re: Anyone successfully executed pension portability from UK Civil Service to a US Pl

Thanks!

I would have naively thought that, if the cash-out value of a DB plan was equal to its true actuarial value, then DB versus DC would be a wash since one could use the DC to buy an (again,...
Forum: USA
Aug 27th 2014, 4:52 pm
Replies: 5
Views: 979
Posted By colin_w

Lightbulb Re: Tax question , money into U.S

As I understand it, gift tax (if any) falls on the giver. The recipient doesn't owe tax.

If the giver is in the UK, and lives for seven years after the gift is given, the tax is zero. However, if...
Forum: USA
Aug 27th 2014, 4:40 pm
Replies: 43
Views: 2,688
Posted By colin_w

Anyone successfully executed pension portability from UK Civil Service to a US Plan?

Hello!

First time reader and first posting!

I came here wondering if anyone has successfully executed "pension portability" from UK Civil Service to a US Plan? I have a PCSPS (Principal Civil...
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