UK Based Pension
Jan 4th 2018, 4:17 am
#1
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Thread Starter
Joined: Jun 2014
Posts: 24
UK Based Pension
Ok so I have been going slightly crazy here trying to figure this out. So I have a pension in the UK and it has not done anything since 2014. I also have funds over in the US with a local broker who I have worked with via my employer.
What I want to do is to merge the two into a single retirement fund based in the USA so that I don't have to fill out the FBAR form, however when contacting the fund I need to have a QROPS or Qualifying Recognised Overseas Pension Scheme in order to move the funds over.
Does anyone know of someone in the USA that I can contact so that I can move the funds into one of these schemes (and on the whole make my tax filing easier?). If it helps I'm in Washington state (Spokane)
Thanks
What I want to do is to merge the two into a single retirement fund based in the USA so that I don't have to fill out the FBAR form, however when contacting the fund I need to have a QROPS or Qualifying Recognised Overseas Pension Scheme in order to move the funds over.
Does anyone know of someone in the USA that I can contact so that I can move the funds into one of these schemes (and on the whole make my tax filing easier?). If it helps I'm in Washington state (Spokane)
Thanks
Jan 4th 2018, 9:02 am
#2
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Joined: Nov 2012
Posts: 902
Re: UK Based Pension
It is impossible under US domestic law to move money into a US qualified plan from a non-US qualified plan. The UK plan has always been FBAR & 8938 reportable.
