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Tax Help (stressed out)

Tax Help (stressed out)

Old Apr 9th 2019, 4:11 pm
  #76  
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Default Re: Tax Help (stressed out)

..thanks, I apologise if I have annoyed you it was not my intention, I am genuinely thankful for all your help.

I am positive as you and have others indicated it is not treated as a that for tax purposes. I was just looking to see if anyone else who was in the same boat came across this. I know durhamlad mentioned it's not too though unclear if he had the same type as it was introduced about a decade ago.
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Old Apr 9th 2019, 8:09 pm
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Default Re: Tax Help (stressed out)

Originally Posted by dee98 View Post
..thanks, I apologise if I have annoyed you it was not my intention, I am genuinely thankful for all your help.

I am positive as you and have others indicated it is not treated as a that for tax purposes. I was just looking to see if anyone else who was in the same boat came across this. I know durhamlad mentioned it's not too though unclear if he had the same type as it was introduced about a decade ago.



Dee. You only annoyed me by refusing, for no good reason, the details of the supposed CPA you met with. To help you I wanted to research if they were indeed extensively experienced in international tax matters as you claimed.

Other than that I only see you 'annoying' yourself, here and on the us-yankee site, under the handle you use there.
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Old Apr 9th 2019, 8:25 pm
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Default Re: Tax Help (stressed out)

Hi Hotscot I found a few interesting threads on here and other sites about the UK Pension types and was looking to create a fresh conversation revolving around this so others can be aware too. I think it is healthy considering some of these changes have occurred recently and may be useful for others.

I am trying to find more information relating to this to assist others and bring discussion surrounding the topic.

Last edited by dee98; Apr 9th 2019 at 8:48 pm.
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Old Apr 15th 2019, 8:18 pm
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Default Re: Tax Help (stressed out)

What about declaring interest from your pension contributions to the IRS? Where do i declare that? I paid in a couple hundred pounds a month into my pension last year and made a few buks interest. I assume the IRS want to know about it? I included interest from cash ISAs on the 1099-INT - maybe i should include it there too?
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Old Apr 15th 2019, 8:44 pm
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Default Re: Tax Help (stressed out)

Originally Posted by LeavingLondon View Post
What about declaring interest from your pension contributions to the IRS? Where do i declare that? I paid in a couple hundred pounds a month into my pension last year and made a few buks interest. I assume the IRS want to know about it? I included interest from cash ISAs on the 1099-INT - maybe i should include it there too?
unlike an ISA I believe that pension schemes such as SIPPs and employer pension DC schemes are recognized as such by the IRS and only withdrawals are taxed.
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Old Apr 15th 2019, 8:48 pm
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Default Re: Tax Help (stressed out)

thanks!!!
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Old Apr 16th 2019, 3:51 pm
  #82  
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Default Re: Tax Help (stressed out)

Originally Posted by durham_lad View Post


unlike an ISA I believe that pension schemes such as SIPPs and employer pension DC schemes are recognized as such by the IRS and only withdrawals are taxed.
Hi durhamlad,

Do you or any other members by chance know if you are to file a 8833 for this if you are keeping your pension dormant. Would you file one the first year to acknowledge it or is it not needed and the 8833 would be utilized upon distribution?

Last edited by dee98; Apr 16th 2019 at 3:55 pm.
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Old Apr 16th 2019, 4:35 pm
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Default Re: Tax Help (stressed out)

Originally Posted by dee98 View Post
Hi durhamlad,

Do you or any other members by chance know if you are to file a 8833 for this if you are keeping your pension dormant. Would you file one the first year to acknowledge it or is it not needed and the 8833 would be utilized upon distribution?
No idea I’m afraid as I’ve never owned one. I’ve only ever had db final salary pensions which I never declared until I started receiving income, and I simply file substitute 1099-Rs with my tax returns.
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Old Apr 16th 2019, 9:26 pm
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Default Re: Tax Help (stressed out)

No worries durhamlad, thanks for the reply. Trying to gather when I would need to file a 8833 for my DC employer pension I assume at distribution. If anyone else has a DC and knows the answer that would not mind sharing that would be great.
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Old Apr 16th 2019, 10:53 pm
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Default Re: Tax Help (stressed out)

Hi Dee.
Hope you're well.
Here you go.
https://www.irs.gov/pub/irs-pdf/f8833.pdf

It has instructions.

Wait until you start taking a distribution. Will that be soon?
And why do you believe it applies to you?

Last edited by Hotscot; Apr 17th 2019 at 12:18 am.
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Old Apr 17th 2019, 1:54 am
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Default Re: Tax Help (stressed out)

Doing well hotscot, getting out and about whilst the weather is beautiful and warm outside

When the other member mentioned interest I wasn't sure if anything were to be noted for fluctuation in a pension or if most expats filed a 8833 on their first return in relation to this...I was just being a bit curious

Additionally, I wasn't sure if it were to be filed when submitting pension contributions too, though as a NRA being considered a US resident I don't think the treaty could of been used anyways come to think about it.

...distributions will be a good few decades away!
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Old Apr 17th 2019, 4:02 am
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Default Re: Tax Help (stressed out)

No, don't file for contributions.
Absolutely no requirement from what you've explained in your myriad multi-thread posts.

When you do take your pension 40 years from now simply report it according to the rules of that era.
(Whatever they may be.)

Enjoy the weather.
Did you manage a successful 2018 filing?
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Old Apr 17th 2019, 12:58 pm
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Default Re: Tax Help (stressed out)

We did an extension for more time. I understand the employer contributions exceeding employees makes it a grantor trust which triggers the extra paperwork 3520 etc.

I guess I'm wondering on Sch.B part3 q8 it would be "No" for a dormant pension or a pension that had contributions that was not a grantor trust. I know most US CPA's take the approach that they all are trusts which we know is not true!

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Old Apr 17th 2019, 2:18 pm
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Default Re: Tax Help (stressed out)

Originally Posted by dee98 View Post
We did an extension for more time. I understand the employer contributions exceeding employees makes it a grantor trust which triggers the extra paperwork 3520 etc
We've discussed that on many occasions on multiple threads as you know but if that's your belief then go for it...
You must love that paperwork and stress.
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Old Apr 17th 2019, 3:06 pm
  #90  
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Default Re: Tax Help (stressed out)

Yeah it was discussed before by you and others ...I think you may of misread my post I was agreeing with what everyone said it does not apply to my situation as my contributions did not exceed that of my employer so I do not need to deal with that stress/paperwork.

Just wondering about the second question I believe I'm correct on it.

Last edited by dee98; Apr 17th 2019 at 3:08 pm.
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