Originally Posted by SheilaL (Post 13301616)

I have been in the US since 2007, married to US citizen and just became a US citizen myself in January this year.
I usually file our taxes, married filing jointly.
I am a bit confused about how to enter information for my UK SIPP that I opened last year and would welcome any help.
I have already submitted a FBAR form but not sure which form I should use for my taxes.
I think, from everything I have read I should use form 8938 since the amount is over the reporting threashold.
Looking at that form I am not sure how to complete it, I just transferred all my money from a UK pension into the sipp and I havent taken out any money.
When I looked at the turbo tax site I have to pay to use the form 8938, I can fill it in myself on OLT tax site but wasnt sure if this was correct form.
If that is the correct form do I just enter the amount in other income but then it asks for schedule and line. I assume it's schedule 1040 but I dont know which line.

Originally Posted by SheilaL (Post 13305500)

I was just wondering about UK state pension.
This isn't relevant for me this year, I wont start getting uk state pension until June this year.
I'm thinking in advance for next years taxes and want to be prepared.
Will I need to declare uk state taxes somewhere on my US tax form and if so, where do I enter it.
This will be the only state pension that I will be receiving since I don't have enough years to qualify for social security but have the maximum UK years, 39 years. Not sure if that makes a difference.
Many thanks

Originally Posted by Cook_County (Post 13305753)

1. All transfers are reported at Lines 5a and 5b on page 1 of Form 1040. If you are a resident of a State which has an income tax, the distribution may be taxable in that State.
2. Both the old and new plans are reported on FBARs and Form 8938.
3. If the SIPP is a foreign grantor trust, you'd be filing Form 3520 and a substitute Form 3520-A.