QROPS USA – The Options

If an individual moves to the USA and they wish to transfer their UK pension abroad to take advantage of a QROPS scheme they may incur significant problems.

Some QROPS schemes are now available but many individuals have fallen foul of the US Inland Revenue Service (IRS).

However the US Inland Revenue Service (IRS) will not permit acceptance of a UK registered pension scheme assets into a 401K or similar USA Pension account.

QROPS USA – The challenges:

We recommend that you take specialist independent advice as often individuals can incur greater tax liabilities in the future. Double taxation agreements between the USA exist with the UK but many QROPS jurisdictions have no such agreements. The USA also has strict guidance to how Pension funds accumulated whilst non resident aliens are treated for tax purposes.

For more information on USA pension transfers please contact MyQROPS.net here or fill out the form below.