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Topic: 401k contribution question  (Read 928 times)

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401k contribution question
« on: September 24, 2014, 11:56:59 AM »
Hi,

I am planning on moving to the UK in the next few months as part of a intra-company move. I am told by my employer that I am still able to contribute to my company 401k plan but I was curious if contributions to a 401k plan count as a pension contribution for tax relief purposes.

Does anyone have experience with this?

Thanks!


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Re: 401k contribution question
« Reply #1 on: September 24, 2014, 12:42:14 PM »
You can get UK tax relief on traditional 401k/IRA contributions per the US-UK Tax Treaty, provided that you were contributing to the plan before becoming a UK resident. If your employer hasn't arranged for the contributions to come out of your pre-tax (gross) salary, you might need to file a UK tax return at year end in order to claim the tax relief. There are some other threads on this board relating to pension contributions so have a look through the archives.


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