Скачать или смотреть [ Offshore Tax ] Let’s Talk: Navigating (401k) Withdrawals for Singaporean Ex-US Citizens

[ Offshore Tax ] Let’s Talk: Navigating (401k) Withdrawals for Singaporean Ex-US Citizens

You are generally in control over as long as the plan is not obligated to distribute the vested money to you when you are separated from the U.S. employer.
Therefore, you have the option to either withdraw or leave it. Normal distribution starts at age 59 ½. Prior to the date you reach that age withdrawal is considered early, and a 10% early penalty may apply unless exempted. If you want to roll over the distribution, it must be deposited to another qualified U.S. retirement plan; otherwise, taxes and penalties may apply.
401(k) plans are U.S. tax-deferred retirement plans. Payments from these plans to nonresident aliens are subject to a 30% federal tax withholding under Title 26, U.S. Code § 871(a) and Title 26 U.S. Code § 1441. The 30% withholding is required unless documentation exists and the recipients can show they are U.S. persons or nonresident aliens that live in a country with which the US has a tax treaty and a lower tax rate applies.

TIMESTAMPS:
0:00 INTRO
0:31 401(k) taxed via residency, rules.
2:26 30% withheld; tax on Roth growth
3:10 outro

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