Can I transfer my 401(k) to my current retirement plan abroad?

Transferring funds from a U.S. Qualified Plan to a foreign retirement plan, will be neither be tax-free nor will it count as a qualified rollover. This means moving your 401(k) to international funds will result in U.S. tax liability and possibly the 10% penalty for an early withdrawal.

If you have other retirement accounts such as a traditional IRA, Roth IRA, or a foreign pension plan, an expat tax expert from H&R Block Expat Tax Services can help you understand how these accounts might be taxed on your U.S. tax return. Additionally, they can help make recommendations for what you can do in the future to reduce your U.S. tax liability.

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Have more questions about your 401(k)? Ready to file? No matter how complicated your U.S. tax return is, there's an Expat Tax Expert ready to help. Get started with Virtual Expat Tax Preparation.