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Topic: 401K what to do with it  (Read 1027 times)

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401K what to do with it
« on: October 18, 2011, 09:57:59 AM »
Hi my wife has just had her Visa approved and will moving here to the UK in a months time after finishing out her work commitments in the US. OUr big question right now is what to do with her 401K? She doesn't want or need to cash it out but neither of us have any clue what to do with it or how to keep it in place once she moves here.

Any help or advice would be most welcome.

Thank you.


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Re: 401K what to do with it
« Reply #1 on: October 18, 2011, 11:38:35 AM »
You just change her address with the 401k provider.


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Re: 401K what to do with it
« Reply #2 on: October 18, 2011, 12:44:00 PM »
If your wife likes the investment options in her 401k just do the change of address and she should make sure she has online access to her account so she can manage her money. However, 401k fund options and fees are often not as good as with low cost mutual fund companies like Vanguard. So she should look into rolling the 401k over into an IRA. There is no need to do anything specific wrt taxation until withdrawals are made


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Re: 401K what to do with it
« Reply #3 on: October 18, 2011, 06:47:12 PM »
It is not compulsory, but she might want to elect into the treaty when she comes to file her UK tax returns.


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Re: 401K what to do with it
« Reply #4 on: October 20, 2011, 01:11:29 PM »
It is not compulsory, but she might want to elect into the treaty when she comes to file her UK tax returns.

So I assume she'd do a self assessment and she'd declare her US 401k or IRA accounts and then claim that they are free of tax until withdrawals are made under article 17. Is that right? where on the SA would you include them?


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