US 401K plans

PippaO · September 2023

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 · September 2023

Hi Pippa,

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

PippaO · September 2023

Thank you Tim, very helpful!

amarshall · September 2023

@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!

US 401K plans

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