Rollover 401k by Israeli Citizen

[Guest scott34]

Background:

An Israeli citizen worked in the U.S. for a few years and contributed to his U.S. employers 401K plan. He left and has been back in Israel for 4 years. He now wants to roll it over to an IRA.

Question:

Can he move it to an IRA if he is no longer in the US?

Thanks

[401king]

Background:

An Israeli citizen worked in the U.S. for a few years and contributed to his U.S. employers 401K plan. He left and has been back in Israel for 4 years. He now wants to roll it over to an IRA.

Question:

Can he move it to an IRA if he is no longer in the US?

Thanks

Yes, I'm actually working on the same situation right now and it is possible. The institution I established the IRA with simply needed a W-8BEN for tax purposes because this individual was a citizen of Israel.

[Guest scott34]

Did the IRA company require him/her to provide a U.S. address?

[mbozek]

Background:

An Israeli citizen worked in the U.S. for a few years and contributed to his U.S. employers 401K plan. He left and has been back in Israel for 4 years. He now wants to roll it over to an IRA.

Question:

Can he move it to an IRA if he is no longer in the US?

Thanks

What you need to do is contact a US bank which is a a subsidiary of an Israeli Bank such as Israel Discount Bank or Bank Hapoalim in NY and ask them if this can be done.

[MWeddell]

I would think the answer is yes, that a non-US taxpayer can roll over money from a US qualified plan to a US IRA. Whether that makes sense from the taxpayer's perspective, I don't know.