austin3515 Posted June 30, 2009 Posted June 30, 2009 With a twist! She lives in Puerto Rico - I gather the rules would be applied the same as if she lived in Arizona, is that true? Austin Powers, CPA, QPA, ERPA
austin3515 Posted June 30, 2009 Author Posted June 30, 2009 And a follow-up! Account balance is less than $5,000 and the plan includes the automatic IRA rollover rules. Do those rules apply to this? Austin Powers, CPA, QPA, ERPA
masteff Posted June 30, 2009 Posted June 30, 2009 Looking at IRS Pub 570, my opinion is if US citizen, the proceed basically as normal. If not US citizen, then get W-8BEN. Most residents of Puerto Rico are US citizens so I'd generally proceed on that presumption. And I don't see anything to contradict applicability of automatic rollover in this situation. Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra
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