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Search: Posts Made By: davebb
Showing results 1 to 25 of 39
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Forum: USA
Apr 13th 2025, 3:31 pm
Replies: 25
Views: 3,898
Posted By davebb

Re: SSA Reform Act Of 2025 - Beware Expats

No-one thought they would deport green card holders, imprison legal residents in El Salvador, deliberately crash the stock market, ignore the constitution.... there's a non-zero chance of...
Forum: USA
Mar 25th 2025, 6:08 am
Replies: 126
Views: 23,209
Posted By davebb

Re: Moving back home to escape the craziness

"In the US" is a bit broad. The 4th amendment protects against warrantless searches in most cases. CBP have an exception that allows them basic searches of personal devices at a border entry point....
Forum: USA
Mar 25th 2025, 5:48 am
Replies: 14
Views: 1,904
Posted By davebb

Re: UK bank account question

If you have a Wise GBP interest bearing account it comes with a UK account number, sort code, IBAN, and Swift. Is your pension provider rejecting those?
Forum: USA
Mar 23rd 2025, 4:45 am
Replies: 14
Views: 1,904
Posted By davebb

Re: UK bank account question

've had an interest-bearing Nationwide savings account for many years. They send statements to my US address. There are some types of accounts that can only be held by UK residents.
Forum: USA
Mar 23rd 2025, 4:41 am
Replies: 14
Views: 1,904
Posted By davebb

Re: UK bank account question

GBP and EUR balances seem to be held in an FDIC-insured US account if you're a US resident, according to Wise. Not an actual foreign account so not subject to FBAR reporting, I would think. For...
Forum: USA
Mar 23rd 2025, 4:12 am
Replies: 126
Views: 23,209
Posted By davebb

Re: Moving back home to escape the craziness

That about sums up the state of play, sure enough.
Forum: USA
Mar 5th 2025, 10:15 am
Replies: 17
Views: 4,435
Posted By davebb

Re: Treasury & IRS Exchange Rate 2024

I don't think I've ever had to log in. I use this one:
https://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html
'Prepare and Submit' at the bottom.
Forum: USA
Mar 5th 2025, 5:26 am
Replies: 122
Views: 33,574
Posted By davebb

Re: UK Pension taxation for US Resident

If you have an HMRC online account, there's a 'Check Progress' option in the main menu.
Forum: USA
Mar 5th 2025, 4:48 am
Replies: 122
Views: 33,574
Posted By davebb

Re: UK Pension taxation for US Resident

Have you filed a P85?
https://www.gov.uk/guidance/get-your-income-tax-right-if-youre-leaving-the-uk-p85
Forum: USA
Feb 20th 2025, 12:56 pm
Replies: 126
Views: 23,209
Posted By davebb

Re: Moving back home to escape the craziness

It will take me a few years to convert all my IRAs without incurring excess tax, and I'd still be left with other retirement investments that are tax advantaged, but once in a Roth you can take any...
Forum: USA
Jan 8th 2025, 8:00 am
Replies: 17
Views: 4,435
Posted By davebb

Re: Treasury & IRS Exchange Rate 2024

Also note that for the sake of converting your income into dollars to assess the tax on it:

//The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange...
Forum: USA
Jan 8th 2025, 3:26 am
Replies: 137
Views: 21,410
Posted By davebb

Re: WTH... WEP? Really?

Could be. Way early on in the debate I vaguely recall reading something about foreign recipients being excluded, but it went away. Had they had to explain the rationale for that, it would have...
Forum: USA
Jan 8th 2025, 3:21 am
Replies: 137
Views: 21,410
Posted By davebb

Re: WTH... WEP? Really?

I'm not sure it is a small percentage. Not all government workers 'opted out' of paying FICA. Only 2.1 million people are affected by WEP in total, so I think the figure for immigrants might be...
Forum: USA
Jan 8th 2025, 3:02 am
Replies: 137
Views: 21,410
Posted By davebb

Re: WTH... WEP? Really?

SS pays out a percentage of your average US wages over 35 years on which you paid FICA. To give people who were on low wages all their lives a more useful amount, the first $1174 of the average is...
Forum: USA
Jan 7th 2025, 4:14 pm
Replies: 137
Views: 21,410
Posted By davebb

Re: WTH... WEP? Really?

WEP is gone but it was noticeable that for months none of the pro-bill lobbyists once brought up the sticky subject of the benefits to foreign pensioners for fear of derailing it, and I honestly...
Forum: USA
Jan 5th 2025, 10:14 am
Replies: 122
Views: 33,574
Posted By davebb

Re: UK Pension taxation for US Resident

The UK won't tax your pension if the basic pension is all they know about. If your tax code is 1257 (or this year's equivalent) then you'd get the standard 12570 tax free allowance, so under that...
Forum: USA
Jan 5th 2025, 10:06 am
Replies: 14
Views: 1,564
Posted By davebb

Re: US Social Security

I applied for Medicare a year ago online and was told I had to go to the local SSA office to complete it. There were no problems there, however.
Forum: USA
Dec 24th 2024, 3:53 am
Replies: 137
Views: 21,410
Posted By davebb

Re: WTH... WEP? Really?

The US assumes your other pension would already cover that initial 90%, I guess. WEP is/was a very crude tool that doesn't suit every situation. Some people did better from it and some did worse, but...
Forum: USA
Dec 24th 2024, 3:22 am
Replies: 1,097
Views: 412,874
Posted By davebb

Re: Class 2 NI. What about us poor expats paying voluntary contributions?

In Michigan's case, you would use Form MI- 4884 to declare your pensions. Their instructions do give some minimal guidance on foreign pensions as shown below. I entered my UK pension on that form and...
Forum: USA
Dec 22nd 2024, 1:56 am
Replies: 1,097
Views: 412,874
Posted By davebb

Re: Class 2 NI. What about us poor expats paying voluntary contributions?

Edit: Here's the UK government summary of the treaty. Tax-free status of PCLS is preserved for a UK citizen resident in the US, but not if they're also a US citizen...
Forum: USA
Dec 22nd 2024, 1:17 am
Replies: 1,097
Views: 412,874
Posted By davebb

Re: Class 2 NI. What about us poor expats paying voluntary contributions?

The article claimed that UK state pension isn't even reportable in the US, which is nonsense. The UK government will tax your pension if you live abroad if you let them. You may need to apply for a...
Forum: USA
Dec 21st 2024, 4:13 pm
Replies: 1,097
Views: 412,874
Posted By davebb

Re: Class 2 NI. What about us poor expats paying voluntary contributions?

I think that's nonsense. The treaty agreement between the US and UK states that pensions are taxable in the resident's state to the extent they're taxable in the other country. A UK pension is...
Forum: USA
Dec 21st 2024, 2:22 pm
Replies: 1,097
Views: 412,874
Posted By davebb

Re: Class 2 NI. What about us poor expats paying voluntary contributions?

I'm in Michigan, which is in a 4 year transition to tax-free pensions for everyone. (Still taxable at the federal level, of course.) For 2024 in my particular circumstances up to $64k of 'pension and...
Forum: USA
Dec 21st 2024, 9:06 am
Replies: 1,097
Views: 412,874
Posted By davebb

Re: Class 2 NI. What about us poor expats paying voluntary contributions?

I'm reporting mine under 1040 line 5b, taxable pensions and annuities. I don't make up a 1099-R for it. I have documentary proof of the amount if I get audited. The reason I do that is that pensions...
Forum: USA
Dec 21st 2024, 8:40 am
Replies: 137
Views: 21,410
Posted By davebb

Re: WTH... WEP? Really?

He's likely a victim of the deluge of misinformation about WEP that its opponents have been disseminating in order to gain support for the bill. He might well 'believe' he's getting less in his...
Showing results 1 to 25 of 39
 
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