Ask Experts Questions for FREE Help !
Ask
    slee1234's Avatar
    slee1234 Posts: 5, Reputation: 1
    New Member
    		  
    #1

    Dec 19, 2008, 01:28 PM
    Can a Roth IRA be opened in a foreign country?
    (a) What are the specific rules/guidelines for setting up a Roth IRA?

    (b) Must the Roth IRA be opened with an US institution?
    Or can it be a non-US institution in a foreign country, provided that it meets all of the conditions as specified in (a)?

    I'm interested in finding out as I am a US citizen working overseas, and I would like to invest in an IRA that is available here in the country where I work.

    Thanks for your input.

    Sam
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #2

    Dec 19, 2008, 03:02 PM

    Why not just ask the institution that you're considering investing with whether they offer Roth IRA accounts? There are requirements for IRA custodians that require filings with the IRS (and perhaps other US institutions such as the SEC) - so it's a business decision of the institution whether they want to offer IRA acounts or not.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Dec 23, 2008, 05:19 AM
    If the foreign institution cannot offer you the Roth IRA, you can open an account using wire transfer, fax and email at Charles Schwab for sure and probably the other brokerage houses as well.
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
    		  
    #4

    Dec 23, 2008, 01:09 PM

    A Roth IRA must be a trust created or organized in the U.S.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Tax on remuneration in a foreign country [ 1 Answers ]

Iam a government doctor employed in a teaching hospital in lucknow from where I draw my salary. Presently, I have been invited by a university in France as a teaching researcher on contract for conducting some research work for a period of 4 months. During this period I will receive salary in india...

US Employer in A foreign Country [ 1 Answers ]

Thank you in advance for responding to my 2 questions. Currently I am living and employed by a US firm in UAE the company which is currently withholding taxes I have not worked for my employer in the states only in UAE. Does the company have to withhold taxes? Also, the company just recently...

401k into Roth IRA for foreign nationals [ 1 Answers ]

I'm on an H1-B and switched employers recently. The new employer has a 403b contribution plan and will not let me mix funds from my 401k. First of all, do I have to be a permanent resident or a US citizen in order to open an IRA account? (Single and under the 110k limit) If I can in fact have an...

Inheritance From Foreign Country [ 1 Answers ]

Long, lost family member died in 2002 in Malaysia. I am sole surviving heir. After paying for services rendered in Malaysia for transferring the estate to me, my net gain expected to be $1.4MM. Since only $1MM is excluded from inheritance or income taxes on deaths occurring in 2002, what...

View more questions Search