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    onebadoze's Avatar
    onebadoze Posts: 1, Reputation: 1
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    #1

    Sep 17, 2008, 09:15 AM
    What to do with 401K money from Overseas
    I have closed my 401K plan in Australia and have a cheque to be deposited (Australian Dollars)

    What (If any) are the Tax implications for me here in the US :confused:

    Should I just place it in a CD, Savings account, Cheque account etc

    I am permanent legal resident of the US and all my taxes are current

    I would appreciate any advice you can provide
    maxis's Avatar
    maxis Posts: 11, Reputation: 1
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    #2

    Sep 18, 2008, 08:31 PM
    Hello I would suggest an Annunity which are paying much higher guaranteed rates and most are bouncing 5-10% on the initial deposit. And the money grows tax free. Also you are gurareented a certain amount of interest regardless of the market
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