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Expat_questions · Mar 6, 2007, 11:31 AM

2 questions as follows...

Background: I obtained a green card around 1999, and am a permanent resident alien. I am returning to the UK in 1 month and I should financially separate myself from the US I think.

1. Can my 401K can be transferred. I think it is easier to roll it over into a traditional IRA in america, and then transfer that into a UK pension scheme (same international pension company is probably prefered)... Is this correct.

2. Can all the Social security money I have ever paid in be sent to the UK. I think I need to sign a document saying that I am withdrawing all monies and if I return I will not be able to claim from that withdrawn money.

Any help appreciated,

Many Thanks,
Miles.

AtlantaTaxExpert · Mar 7, 2007, 11:17 PM

1) Yes, that makes sense.

2) There IS a totalization agreement with the U.K. that will give you credit for monies paid into U.S. social security.

Expat_questions · Mar 8, 2007, 03:29 PM

Thanks for the reply, (AtlantaTaxExpert)

The Prudential financial today said they can not transfer an IRA into the uk Prudential without it being a cash distribution... they seemed to think the us tax office would want the 20%+10%penalty. They are reasearching more in house and will let me know. If that is the case I should leave it as is in the US, and take $8500 distributions each year, after 59½. Do you agree?

Thanks,
Miles.

AtlantaTaxExpert · Mar 10, 2007, 01:55 AM

Agree. Leave it in the U.S. IRA and manage it using phone and email!

mick1234 · Mar 25, 2011, 04:41 AM

Hi there
I live in the usa from 1987 to 1994 and paid in to a 401k pension but do not have any details of the policey. How can i found out any information about this.
Thanks mick j

ebaines · Mar 25, 2011, 06:01 AM

Mick: turn off your caps lock key - we can hear you just fine, no need to shout.

You should be receiving quarterly statements from the plan administrator who runs the plan for your former employer. Check those statements for contact information. This information would also be on the plan documentation that you received back when you first enroilled in the plan. If you have lost all your records and are not receiving statements then you should call the HR department of your former employer and ask how to get info on your 401(k) plan account.