Pillar 3a retirement savings account

2POSTS

last week

Hi,

I am a Swiss-American citizen living and working in Switzerland where it is common - and desirable - to have a pillar 3a retirement acount for old age savings in addition to social security and pension plans at work. I am running into the problem that no Swiss bank would accept me as a pillar 3a account holder because "US persons" cause the banks additional paper work and reporting requirements to US tax authorities. Is anyone aware of ways to have a pillar 3a account in Switzerland? Perhaps with a US bank in Switzerland? Thank you for any advice.

Gregor Schmid

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SimCityAT Expert

13672POSTS

last week

Have a look at UBS (Fisca 3a): UBS is one of the few major banks that accepts US persons residing in Switzerland. They have a "UBS Fisca" 3a retirement account designed for this. You typically need to visit a branch in person.