Transfer UK pension to IRA

Hi, I worked in the UK for 4 years and contributed tothe company pension plan. When we moved to the US in 94, I was told that I had to leave it there. Since then, we became US citizens and decided to stay and I'd like to move that money back here if possible and manage it myself. I read a few articles (including a fairly confusing document on the Inland Revenue Service site) that seem to imply that a transfer might be possible to an IRA. Does anyone has some experience in that area and could point me in the right direction. Also, how would the IRS (US) tax that money ?

Thanks for any info on that topic !

MP 

Hi Michel-P

I assume you want to convert you 401K plan in to an IRA. I think this will be possible even if you convert it to a Roth IRA. You can read publication 590 of the IRS on www.IRS.gov which may help you .......If you still have any questions let me know....

Helen
www.ht-tax.co.uk

Helen, thanks for the post.

Actually, I want to move funds from a UK company pension plan to a US IRA. I already know that I cannot move the money to my 401K in the US. I am now trying to figure out if it could be moved to a simple IRA.

Michel

I've asked a similar question, but in reverse, US 401k to UK equivalent. My research hasn't found
a way to do such an "international rollover". Bsically the retirement schemes in the UK and US
are totally separate and to roll over into an IRA the money has to come from a "qualified plan"
and those are all US based things like 401ks etc.

I think you'll be best served by leaving the money where it is. The UK/US tax treaty does cover
the proceeds form pensions quite well.