"PeterL" <po.ning[at]gmail.com> wrote
- quote -




The only real issue is if the existing employer plan allows or accepts
transfers/rollovers.






--
Paul A. Thomas, CPA
Athens, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Paul Thomas, CPA wrote:
- quote -

I guess I didn't make myself clear. It is not a foreign plan. The 401K
is from an American company. The pension plan is from that same American
company. The American 401K was rolled over into the American pension
plan. There is nothing foreign about that.

The only thing foreign about this is the beneficiary who is a citizen of
and living in foreign country and not a resident alien in the USA.

- quote -

It is not a taxable distribution and no taxes were withheld:

Line 1 shows the Gross distribution with an amount of $______

line 2a shows the Taxable amount of $0.00

Line 4 federal Income Tax withheld of $0.00

- quote -


Since there were no withholdings would you agree that it is not
necessary to file a tax return?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Mar 3, 2:22*pm, "Paul Thomas, CPA" <paulthomascp...[at]bellsouth.netwrote:
- quote -

I didn't read it that way. OP said roll a 401K from an American
company into that company's (i.e. that American company) pension
plan. The question is whether one can roll a 401K into a pension
plan.


- quote -

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"njoracle" <njoracle[at]att.net> wrote
- quote -


There's no such animal where you can roll a US pension/IRA/etc into a
foreign plan, etc.

It's going to be a taxable distribution, and taxes ~~will~~ be withheld if
the fund managers know what they are dealing with.




- quote -



Yes, a tax return will be due, mainly because it's highly likely that the
withholdings are greater than the tax that may be due.




--
Paul A. Thomas, CPA
Athens, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <nQXyj.276466$MJ6.45544[at]bgtnsc05-news.ops.worldnet.att.net> ,
njoracle <njoracle[at]att.net> wrote:
- quote -

I don't think you can roll from a 401K to a foreign company's pension
plan.

Seth

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I read the other thread on "401k rollover" and how to handle that on
line 16 of the 1040. However, what if the rollover is for a person
residing in a foreign country and a 401K from an American company which
was rolled over into that company's pension plan?

Is it necessary for this person to file an income tax with the IRS since
he is not living in the US and has not lived (or visited) here for over
20 years? Of course, because of the rollover, there is no tax due and
none was withheld.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >