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UK Employer changes pension provider / US taxes

UK Employer changes pension provider / US taxes

Old Oct 17th 2019, 12:02 pm
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Default UK Employer changes pension provider / US taxes

I have a question I was wondering if any expats have had occur to them? When your old UK employer changes pension provider and transfers your work pension to the new provider automatically. Due to this being an administrative/employer change am I correct in saying this transfer is NOT creating a "grantor trust" which would require that 3250 paper work carry on ...right?

My assumption was that as it is employer based and is still in a company retirement plan under their name under the new provider you would just update future forms to the new provider's name.

I spoke to another user who noted that it occurred to them and to update the pension provider name on future 8938/FBARs when applicable which sounds right.

I was wondering if any other members had experience or insight into this? All replies appreciated, many thanks
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Old Oct 18th 2019, 12:12 pm
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Default Re: UK Employer changes pension provider / US taxes

I was curious if any others on here received noticed in the past that their work pension was changing pension provider and what they did?

I know it's a bit of an odd scenario, I believe what the other user advised seems correct in terms of just updating FBAR and 8938 forms when applicable to the old employer's new pension provider's name.

Any advice/input on this one is much appreciated !
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Old Oct 19th 2019, 5:51 pm
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Default Re: UK Employer changes pension provider / US taxes

Not had such a pension change, but if it was a straight change of provider, I don't see that anymore is required than what you say. Just put the new name of those forms when the time comes to submit them.
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Old Oct 21st 2019, 11:35 am
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Default Re: UK Employer changes pension provider / US taxes

I had a such a change and had no issues. On the next FBAR/8938 I put Company name "ABC (previously XYZ)", then the following time just continued with ABC. It is just an administrative change.
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Old Oct 23rd 2019, 12:40 pm
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Default Re: UK Employer changes pension provider / US taxes

Originally Posted by lansbury View Post
Not had such a pension change, but if it was a straight change of provider, I don't see that anymore is required than what you say. Just put the new name of those forms when the time comes to submit them.
Yes I agree it seems like a straight forward change of provider, it is still being held in a work retirement plan for my old employer with their new pension provider, going forward I will note the new provider name on the forms.

Originally Posted by MidAtlantic View Post
I had a such a change and had no issues. On the next FBAR/8938 I put Company name "ABC (previously XYZ)", then the following time just continued with ABC. It is just an administrative change.
That is a great idea and was what I was thinking of doing for my next forms that I need to complete, did you mention that the prior company changed provider such as (Employer A changed pension provider previously XYZ) and you are correct its just an administrative change by the former employer.

Last edited by dee98; Oct 23rd 2019 at 1:15 pm.
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Old Oct 23rd 2019, 1:05 pm
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Default Re: UK Employer changes pension provider / US taxes

Originally Posted by dee98 View Post
That is a great idea and was what I was thinking of doing for my next forms that I need to complete, did you mention that the prior company changed provider such as (Employer A changed pension provider previously XYZ) and you are correct its just an administrative change by the former employer.
No I didn't do anything else. Don't overthink it! If the IRS wants to know more they can contact you, although do what you feel comfortable with.
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Old Oct 23rd 2019, 1:19 pm
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Default Re: UK Employer changes pension provider / US taxes

Originally Posted by MidAtlantic View Post
No I didn't do anything else. Don't overthink it! If the IRS wants to know more they can contact you, although do what you feel comfortable with.
You are right its just an administrative change, I will update and keep it straight forward as you mentioned and note it on my FBAR's and also on the 8938 whenever I meet those filing thresholds.

Thanks again

Last edited by dee98; Oct 23rd 2019 at 1:54 pm.
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