On Mar 13, 8:21 pm, "removeps-gro...[at]yahoo.com" <removeps-
gro...[at]yahoo.com> wrote:

- quote -

However, I could be wrong. There are tax treaties between the US and
many other countries, and many allow pensions earned in one country
but received in another to be taxed in the other country only, or only
up to 5% in the earning country. Here is the list of treaties:

http://www.irs.gov/businesses/intern...=96739,00.html

And don't forget the foreign tax credit. Basically on your US return
you subtract out the taxes you paid to the foreign government, but
only the foreign taxes on the US source income, and the remainder (if
any) is what you owe the US.

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On Mar 13, 7:30*am, "Billy" <billnospamever1234...[at]aol.com> wrote:

- quote -

Still not clear. You can be a citizen of the US as well as the other
country.

Assuming you are not a citizen of the US, the 401k is still US source
income, so you would have to file 1040-NR. See:

http://www.irs.gov/publications/p519/ch02.html#d0e2245

At one point California would go after 401k distributions of people
who put money into their 401k while they were California residents but
moved out of state (and were non-residents when receiving their
distributions). But the federal government eventually ruled that they
cannot do this. So it's ironical that US based 401k's are treated
differently.

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"Billy" <billnospamever1234543[at]aol.com> wrote in message
news:47d910ac$0$1093$4c368faf[at]roadrunner.com...
- quote -

Becoming a citizen of another country does not terminate your US
citizenship. You need to take affirmative actions to relinquish your US
citizenship. Until you do so (and perhaps for several years afterwards) you
are still subject to all US income tax laws.

Ira Smilovitz

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On Mar 12, 8:30 pm, Rich Carreiro <rlc-n...[at]rlcarr.com> wrote:

- quote -


Furthermore, in some cases high income ex-pats may be obligated to pay
taxes for ten years after leaving the states, whether they consider
themselves
citizens or not. This closes a tax evasion method some people have
used.
This is difficult to enforce unless you elave asset in America.

http://www.irs.gov/businesses/small/...=97245,00.html

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"Rich Carreiro" <rlc-news[at]rlcarr.com> wrote in message
news:m3od9jpd87.fsf[at]swing-shift.time-tripper.com...
- quote -

tks all

bw

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On Wed, 12 Mar 2008 22:30:59 EDT, Rich Carreiro <rlc-news[at]rlcarr.comwrote:

- quote -

would come under the exclusion. As it is not "earned" income,
however, it is not subject to the exclusion. Earned income means
income paid within a year of the year in which it is earned.
Retirement plan distributions, including 401(K), apply to all years
worked and don't meet this requirement.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

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"Billy" <billnospamever1234543[at]aol.com> writes:

- quote -

Yes, since an emigre who retains his US citizenship is taxed
just like a US citizen back at home -- all US citizens are taxed
on worldwide income regardless of where they reside (though emigres
do have the foreign earned income exclusion).

--
Rich Carreiro rlc-news[at]rlcarr.com

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If a US Citizen emigrates to another country and then redeems his 401K's,
does the person have a US Tax liability then?

tks all

bw

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >