Log in

View Full Version : No w-2


sposada
Jan 31, 2013, 05:11 AM
I am retired in Colombia and I receive my retirement money at chase bank every three months plus a bonus twice a year. I don't have a w-2 and I don't have checks or pay stubs; only my bank statements show the money. How can I complete my taxes? Can I use a software?

Fr_Chuck
Jan 31, 2013, 06:52 AM
So you don't live in America but live in Columbia ?
Is there not some statement sent out by the retirement plan ? Is it a US or a non US company paying you the retirement?

sposada
Jan 31, 2013, 08:43 AM
I do live in the USA but came to live here after retirement. They wire me the retirement money. I suppose I could get some letter from them confirming what the money is but my questions is more as how to complete the tax return in this country

AtlantaTaxExpert
Jan 31, 2013, 09:24 AM
There is no tax treaty with Columbia, so the retirement income IS subject to U.S. taxes if you are considered to be a resident for tax purposes.

Are you paying Columbian taxes on this retirement income?

sposada
Jan 31, 2013, 11:22 AM
I believe they take the taxes before wire is sent but I don't complete a tax return in that country. I am a resident in USA and I think I need to report the taxed but I don't have a w-2. Under which field do I need to report this income?

dontknownuthin
Jan 31, 2013, 11:41 AM
You need to contact the fund management company that manages your retirement account and deposits the money in your bank. Make sure they have your current address and ask them to send the proper documentation of distributions and taxes paid to you. They have until the end of January to send this to you, so given you're in another country, give it a week or two - it may have been mailed.

I'm not sure it would be a W2 though- probably some other type of form to document retirement account distrubitions. That's beyond my knowledge.

AtlantaTaxExpert
Jan 31, 2013, 12:07 PM
Foreign financial companies do NOT have to send such information to U.S. residents, because they are NOT subject to the rules and regulations of the IRS (though, sometimes, the IRS has to be reminded of this minor pint of law).

In any event, getting a statement from the company that details what taxes were paid is a good idea, because you will want to claim the Foreign TYax Credit when you file your U.S. tax return.

If you believe that you will need professional help filing this year, this IS what I do. Please double-click on my name (Atlanta Tax Expert) above to access my profile. You will find my email address in the signature portion of the profile (scroll down to the BOTTOM of the page).

dontknownuthin
Jan 31, 2013, 04:56 PM
I was of the impression that you retired to Columbia from an American company - are the funds coming from an American entity?

AtlantaTaxExpert
Jan 31, 2013, 06:36 PM
You got it right; the management company WILL send out the Forms 1099-R by COB today.