Forced IRA liquidation
Mar 26th 2019, 10:01 pm
#16
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,447
Re: Forced IRA liquidation
Right, but whether you have an IRA or a 401K and need to transfer it, it is going to be to an IRA, so the issues are going to be very similar or identical, …. Unless you are moving between jobs, in which case it might be possible (though rarely a good idea) to transfer an old 401K to the 401K of your new employer, but then if you were employed in the US with access to a 401K then you wouldn't have the problem that you were facing anyway.
Mar 27th 2019, 4:48 am
#17
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Joined: Oct 2003
Posts: 38,613
Re: Forced IRA liquidation
One is able to contact the OP via a BE email . Just as for a PM tap the username for the drop down menu and select - email. .
Mar 27th 2019, 11:29 am
#18
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Re: Forced IRA liquidation
We have previous threads concerning financial institutions freezing or closing accounts when the account holder has moved back to the UK. We also have many occasions where people are unable to open a new account in the US when they are resident in the UK. In many of these instances the financial institutions have been named. So I am confused as to why, in this instance, the institution closing the account and/or the one opening a new account for a non-resident cannot be named. That would be extremely helpful information to many. Transferwise is often recommended (I have done so) and I have also recommended AJ Bell in the UK who will open an account for a US resident. Is there some change of policy?
Mar 27th 2019, 11:53 am
#19
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,447
Re: Forced IRA liquidation
We have previous threads concerning financial institutions freezing or closing accounts when the account holder has moved back to the UK. We also have many occasions where people are unable to open a new account in the US when they are resident in the UK. In many of these instances the financial institutions have been named. So I am confused as to why, in this instance, the institution closing the account and/or the one opening a new account for a non-resident cannot be named. That would be extremely helpful information to many. ….
Last edited by Pulaski; Mar 27th 2019 at 12:00 pm.
Mar 27th 2019, 3:08 pm
#20
Lost in BE Cyberspace
Joined: Jun 2011
Location: Los Angeles
Posts: 6,159
Re: Forced IRA liquidation
I'm saying nothin'
Mar 28th 2019, 11:58 am
#21
SUPER MODERATOR
Joined: Oct 2007
Location: In a darkened room somewhere.............
Posts: 34,035
Re: Forced IRA liquidation
HTH.
Dec 4th 2019, 2:02 pm
#22
Forum Regular
Joined: Mar 2017
Posts: 64
Re: Forced IRA liquidation
I'm pleased to say that I was finally able to resolve my IRA situation
and move the account to a new institution and hence avoid the liquidation.
and move the account to a new institution and hence avoid the liquidation.
If it is not possible to name the new institution, can you give details of the process you had to
go through, and were there any pitfalls?
