US 401K plans

PippaO

Hi there,
Anyone had any experience with 401k US pension plans?
Our client has spent 6 years resident in the US but moved back to the UK in July and will remain a UK resident going forward (& is UK domiciled). My understanding is that these arrangements can't be transferred to a UK registered pension scheme.
Anyone know how they are treated from a tax perspective in the UK upon access (and death).
Assuming they might also incur US taxes on access as well.
Any info much appreciated.

Thanks
Pippa

TimMatthias

Hi Pippa,

Hope this will help. https://pjdtax.co.uk/updates/uk-taxation-of-us-pensions-for-non-us-citizens-and-residents/

PippaO

Thank you Tim, very helpful!

amarshall

@TimMatthias said:
Hi Pippa,

Hope this will help. https://pjdtax.co.uk/updates/uk-taxation-of-us-pensions-for-non-us-citizens-and-residents/

Very useful for one of my clients. Thanks!