HMRC non-reporting funds in IRA

A very simple and quick question.  I am a dual UKC/USC resident and domiciled in the UK. Is there any need to switch from HMRC non-reporting funds to HMRC-reporting funds in my IRAs? I have both a Traditional IRA and a ROTH.  I assume that because the funds are inside IRAs it makes no difference whether or not they are HMRC-reporting funds since withdrawals will be cash, but just want to double-check. 

I think I am finally beginning to wrap my head around all of these issues, though have definitely gained a good number of grey hairs in the process.

A very simple and quick question.  I am a dual UKC/USC resident and domiciled in the UK. Is there any need to switch from HMRC non-reporting funds to HMRC-reporting funds in my IRAs? I have both a Traditional IRA and a ROTH.  I assume that because the funds are inside IRAs it makes no difference whether or not they are HMRC-reporting funds since withdrawals will be cash, but just want to double-check. 

I think I am finally beginning to wrap my head around all of these issues, though have definitely gained a good number of grey hairs in the process.

I believe you are correct that the pension wrapper means you don't have to have HMRC reporting funds inside an IRA or Roth.  All distributions from the IRA are taxed as regular income so there is no tax advantage to an HMRC reporting fund. Roth distributions are free of tax in the UK so it doesn't matter what types of funds are held inside.

You are correct, the pension wrapper and the treaty protect you so there is no need to hold HMRC reporting funds in an TIRA or ROTH.

Thank you both.  That sets my mind at rest.

This presumes you wish to elect into the benefit of the Treaty. If you do not wish to elect to use the Treaty in any future year, holding non-reporting funds could be a problem.

This presumes you wish to elect into the benefit of the Treaty. If you do not wish to elect to use the Treaty in any future year, holding non-reporting funds could be a problem.

What would be a reason for not electing to use the treaty?