Can my US Roth IRA and 401 K be transferred to the United Kingdom?

Question

I have been living in the US for 9 years as a perminent resident - and am planning on moving back to the UK where I have citizenship. Will I be able to transfer these funds to a similar institution? Also what will happen to the social security I have accrued? If there is a link anyone can send me (sorry to be so long winded!) - Chloe

Answer 1

Many US brokerages do business in the UK... I'd definitely check with the experts on that one, and I'm a former stockbroker. Here's my GUESS (be sure to check with the experts): The Roth IRA should be no problem. But the 401k is sticky... if your company does business or has offices in the UK, that might improve your chances. I guess you could always roll that 401k into the Roth if you had to.

Answer 2

Will I be in a position to move those money to an similar corporation? There aren't any similar vehicles that i recognize of contained in the united kingdom. if you're a lot less that fifty 9 a million/2, you should proceed to carry on to those expenses to stay away from consequences. Do you should absolutely substitute your mailing manage with the custodian or fund employer that your expenses are with. it would also be a wise theory in case you're able to roll over your 401k right into a common IRA with the employer that at present is custodian of your ROTH IRA. One a lot less fact for you do manage. also, if the employer sponsoring your 401k bypass bust you've a frustrating time monitoring your plan's directors in a while. if you're fifty 9 a million/2 or over, you have to be in a position to liquidate your expenses and merely take it with you to the united kingdom. there are a large type of reliable monetary establishments contained in the united kingdom who can manage your money as well as US establishments.

Answer 3

I would assume that yes, you can transfer it from this country to the next. Its your money that you have invested, but I don't know about the percentage the the company has invested/vested. Also, I don't know about the SS, but there again, its the money that has come out of your paycheck and paid into an account for you. One of the things I would ask an investment specialist, your human resource office, or maybe tax specialist, is all those questions and also, what fees and penalties, if any, you might have to pay. That is too tricky of a situation to take a chance, ask a professional.