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UK SIPP that works for US resident?

UK SIPP that works for US resident?

Old Mar 26th 2021, 5:07 pm
  #16  
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Default Re: UK SIPP that works for US resident?

Originally Posted by TerryGoX View Post
I have a defined contribution pension that has bounced around many pension companies in the UK as they each exited the market so I have never been confident in the money. Now, it looks ok and plan to move to ExpatSipp or AJBell but I have never filed FBAR paperwork (my oversight - nevr knew I had to prior to any distribution). Is there a Mia Culpe process with IRS - any one have experience?
It is not the IRS but the Treasury Financial Crimes Enforcement Network: https://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html
On the dropdown menu on the first page there are options for late filing. I believe one says something like "I didn't know I had to file". Just go ahead and complete it and use that reason.

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Old Mar 26th 2021, 5:59 pm
  #17  
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Default Re: UK SIPP that works for US resident?

I would only add that you should also file for prior years going back as far as the year ending 12/31/2015 or as many of those that apply. The reason is that the statute of limitations for FBARs is 6 years and filing those years will bring you into full compliance. The deadline for the year ending 12/31/2020 is April 15th, although you get an automatic extension until October 15th, but you might as well get on with it and move on with your life.
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