I am a US Citizen, I have a 401K and I wish to retire overseas. I would like to know if I can rollover my 401K into a foreign IRA without having to pay any penalty?

Thank you.


Jeanette

You can roll over to IRA account in the U.S.
If you roll over to a foreign IRA, it will be subject to early withdrawal penalty and must be reported as income on your tax return.

Read more about 401k options Your U.S. Tax Return: Elective Deferrals 401(k) Plans