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Frequently Asked Questions

Can I contribute to my IRA if I live abroad?

Whether or not you can contribute to your regular or Roth IRA while living abroad depends on your foreign income and the exclusions and deductions you claim—namely, the foreign earned income exclusion (FEIE) or foreign housing exclusion.

What happens to your IRA when you come back from abroad?

Coming back to the United States for an occasional visit doesn't change that, unless you're, for instance, commuting back and forth every weekend to be with your family at home. If you withdraw money from a traditional IRA while you're abroad, you owe American income tax on it.

What are the tax implications of making an IRA or 401(k) withdrawal overseas?

Withdrawals are taxed as income. Roth IRAs are a bit different —once you’ve had the account for 5 years, you may begin withdrawals tax-free, even if you’re abroad. Tax implications of making an IRA or 401 (k) withdrawal overseas There are two difference scenarios in which you’d make withdrawals from 401 (k) or IRA as an expat:

How do I take control of an offshore IRA?

First, you can use a simple self-directed IRA and allow your custodian to make whatever investments you need. Second, you can take control over your account by forming an offshore IRA LLC. With a self-directed IRA, you can direct the custodian where to invest your money, but you don’t control the transaction.

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