transfering money from abroad

[Guest gosporteer]

i moved to the US in Sept 2002 and am now living and working in the US and planning to take citizenship and stay here.

I am 46 and have work and contributed to a pension fund whilst in the UK. I have a transferable sum of about $80,000.

1. can i trasnfer this into a roth ira and then use a portion of it as a downpayment on a house?

2. do i have other options?

I am married to a US citizen and we both work. I have a 401K with my employer here which started in april.

[mbozek]

You need to retain a tax advisor. Generally only funds in US established plans can be rolled over to an IRA which can then be rolled over to a Roth IRA. You should also check the IRS web site (www.irs.gov) for a free tax publication on taxation of foreign nationals under US tax treaties. Recent changes in the treaty between the US and UK affect taxation of retirement benefits in several ways.