Rollover to a UK plan?

[BG5150]

Can a person "roll over" her US 401(k) Plan balance into a UK based plan tax free?

 

[shERPA]

No.

[Larry Starr]

20 hours ago, BG5150 said:

Can a person "roll over" her US 401(k) Plan balance into a UK based plan tax free?

 

Can a British citizen roll over her British pension money to a US 401(k) plan?  (I'm hoping the answer is obvious.) 

It's the same question/issue.

[Kevin C]

2 hours ago, Larry Starr said:

Can a British citizen roll over her British pension money to a US 401(k) plan?  (I'm hoping the answer is obvious.) 

It's the same question/issue.

We have a client that asks this every few years.  If the answer isn't obvious to you, a distribution from a UK plan doesn't meet the definition of an "eligible rollover distribution" 402(c)(4).  From the other direction, a UK plan doesn't meet the definition of "eligible retirement plan" 402(c)(8)(B) that must receive a rollover.  Unless the law changes, the answer will remain "No".

[Larry Starr]

10 hours ago, Kevin C said:

We have a client that asks this every few years.  If the answer isn't obvious to you, a distribution from a UK plan doesn't meet the definition of an "eligible rollover distribution" 402(c)(4).  From the other direction, a UK plan doesn't meet the definition of "eligible retirement plan" 402(c)(8)(B) that must receive a rollover.  Unless the law changes, the answer will remain "No".

Thank you Captain Obvious! ?