Social security pension abroad?
#31
Re: Social security pension abroad?
The big issue is if you are a covered individual and you have US retirement accounts. When you expatriate you give up any treaty rights so your retirement accounts will be taxed at 30%, because you are an NRA. Even if you are a UK resident you cannot use the treaty to make the US pension payments free of US tax.
So if you have US retirement accounts and are a covered individual I would not expatriate......I would only consider it as a non-covered individual.