dee98

Your right Celticgrid

My taxes and situation are pretty simple and straight forward I am just over complicating things, it will be a good few decades before I'm eligible to retire and withdraw from it anyways.

Rete

Yes, you are. How many times does a question have to be answered and by what number of people before you decide which answer is one that you can accept?

While I don't have to deal with UK pensions, I do have to deal with my husband's military and old age pension from Canada and it is not a walk in the park. I've worked with tax accountants who have been excellent and we've never had a problem with IRS and yet we moved and worked with a new tax accountant who researched and researched and came up with the wrong answers. Told us we owed over a thousand in taxes last year, we paid IRS because of time constraints being already on an extension. I knew the money would be given back and it was in full, with interest. One other time the accountant forgot to send in one T-4 (a w-2 equivalent from Canada) and we were told we owed x amount. The accountant handled the situation and we got a letter from IRS stating that the tax year in question was brought up to day and no monies were owed.

I tell you this so that if something goes wrong, it is correctable.

And, no, you don't have to disclose the name of the CPA you consulted. It is preferred that names not be given publicly but if you wanted to make a referral if someone asks, you can do so privately but PM.

Hotscot

Quote:

Originally Posted by Rete

And, no, you don't have to disclose the name of the CPA you consulted.

Far as I can see no one has suggested that you have to do this regarding a CPA, or any other business. Fictional or otherwise....

Even if, if genuine, it would be very useful to others. Credible information is valuable.

dee98

Hi Hotscot,

Not fictional contrary to your belief

Am I correct in saying from what I have learned in the other threads would be for anyone whom has an automatic-enrolled UK occupational pension whether it be a Brit living in the US or an working in the UK would be the first question to ask whom contributed more to it? If your employer contributed 50% or more this would not be a foreign grantor trust however if the employee contributed more than 50% this would result in it being a foreign grantor trust and would then require additional paperwork?

Would this be the Golden rule essentially??

By doing the above if it is not a foreign grantor trust it is just a regular occupational pension that is reported on a FBAR/8938 when applicable.

dee98

Hi Hotscot,

Your point is proven...In all seriousness my reply prior to the deleted posts have I summed up what was mentioned in determining a foreign grantor trust correctly in relation to an occupational pension scheme?? and if it's not a FGT then reporting would be on 8938/FBAR (when applicable) That's all my question is.

As you know I have anxiety and unfortunately it greatly plays against me it is something I am working on, your help has been immensely appreciated I genuinely mean that, I just want to ensure my understanding is correct and I will be done with this.

Hotscot

Sorry about your stress Dee. I hope it gets better.
The answer is yes. Absolutely.
However since I am not a tax pro you might like to check with a CPA who has international experience.
I could be wrong.

Please report back when you confirm as it will benefit the community.