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Has anyone experience on rolling over a 401k plan from the USA to a complying Australian superannuation fund? |
Where do you find info on rolling over 401k funds into an Australian pension fund? Can't roll a 401k out of country. It's taxable income to the US Govt. They won't let that money disappear. Otherwise you'd have people rolling into countries where there is little or no taxes and then taking distributions from there...thus avoiding the US Tax. Further, if you're not a US citizen and living overseas the government mandates that the trust withhold 30% instead of the normal 20%. That way if you fail to file taxes at least they've got their 20% plus the 10% penalty up front. |
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