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Am I allowed to open 2017 IRA if I moved to US in Jan

Am I allowed to open 2017 IRA if I moved to US in Jan

Old Apr 13th 2018, 11:52 pm
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Default Am I allowed to open 2017 IRA if I moved to US in Jan

Hi,

I understand there is still couple of days to open a 2017 IRA, but I was wondering am I allowed to open one still if I moved to US on a work visa in Jan 2018, even though my visa was approved and stamped in December 23rd?
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Old Apr 14th 2018, 12:28 am
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Default Re: Am I allowed to open 2017 IRA if I moved to US in Jan

I don't think so. I believe you need to have earned income in that tax year.
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Old Apr 14th 2018, 2:28 pm
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Default Re: Am I allowed to open 2017 IRA if I moved to US in Jan

I see you came to the US with an L1 Visa so you are already working from the time you entered the US. Since you didn't work in 2017 for the US company, as per Tom's post above, you had no US income in 2017. Perhaps the US division you will be working for has a 401K in place for their US employees and that might be a far better fit for you, especially if they contribute to it as well.

Last edited by Rete; Apr 14th 2018 at 2:32 pm.
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