I am retiring to the Philippines in December 2018 so was planning to rollover the 401K to an IRA...then I began hearing many IRA accounts were shutting down accounts owned by US citizens living abroad i.e. expats. Is this true? Is there an alternate way to handle this? Any ideas?
Randy
IRAs shutting for Americans abroad
randee01
16 September 2018 17:30:20
5
mugtech
16 September 2018 19:19:36
4347
If you roll it into an IRA you can do it now with a USA address, and in December change it to a friend's or family member's address. You can also get a box number address which also has a street name and number for about $12/month at a UPS or similar store. Would not try to roll it into anything in the Philippines as the deposit insurance is less than $10,000 per bank.
randee01
16 September 2018 23:02:00
5
Thank you!!!!
Randy
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