US Citizen employee of foreign company based overseas

[LFB-Singapore]

Hello -

I've just found this forum and did some searching to see if there was already an answer to my question but it does not appear there is...

This is regarding my personal situation.

I am a US citizen working as an expat residing in Singapore working for the Singapore division of a Swedish company. I am on a local Singapore employment contract to the Singapore company.

The only retirement scheme available is the Singaporean CPF scheme which is only available to Singapore PR (permanent residents) - I do not have PR status.

This company DOES have US subsidiaries, but I am not employed by that company.

My question is about Solo 401K plans.

From what I have read the Solo 401K plans are focused only towards self-employed expats and is not available to individual employees of foreign companies overseas. Is that correct?

I'm beyond the FEIE, and am looking for another vehicle to save and invest for retirement - hoping to find a way to take advantage of a pre-tax 401K type plan if possible.

Looking forward to any suggestions.

Thanks in advance

lfb

[Flyboyjohn]

You should see if you can get your employer (the Swedish company) to set up a US qualified 401(k) plan for the benefit of all US citizen employees not covered by a US subsidiary plan.

Or alternatively expand coverage in one of the US subsidiary plans to include you.

To the extent you make Roth 401k contributions and convert employer contributions to Roth within the limits of your FEIE you'll have achieved tax utopia, established a forever income tax free retirement account without ever having paid US income tax.