Author Topic: section 83 foreign pension plans.  (Read 160 times)

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Offline Art

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section 83 foreign pension plans.
« on: March 16, 2017, 11:17:04 PM »
This link;

https://blog.intltaxcounselors.com/international-tax-cpa-research-foreign-accountant/section-403-section-408-section-457-section-894-hmrc-section-402-tax-treaty-pension-retirement-plan-u-s-u-k-tax-treaty-us-uk-uk-us-pension-scheme-eligible-retirement-plan-united-kingdom/

indicates that "section 83 is available for foreign pension plans.  For the Green Card holder, this is a great election with many tax savings."

TBH i couldn't make much sense of this or how it could relate to my pension…can anyone explain/

Thaks

Art

Offline discly

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Re: section 83 foreign pension plans.
« Reply #1 on: March 19, 2017, 04:49:22 PM »
BS

Offline nun

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Re: section 83 foreign pension plans.
« Reply #2 on: March 20, 2017, 01:05:49 PM »
The memorandum is just saying you can't do a penalty and tax free transfer of pensions from the US to the UK ie UK plans are not qualified plans.

Section 83 relates to when you are taxed on company stock grants......I suppose it might be relevant for some people, but won't be an issue for most.