US citizen living and working in London, UK. If he withdraws funds from either an IRA or an ex-employer 401k, (both US based) for a down payment on first ever home buy, in the UK, is there any reason the "First Time" home buyer exception to the penalty would not apply ?
IOW, is there any reason the exception does not apply to a home in a foreign country ?
Funds in a 401(k) can often be rolled over into an IRA. Would there be a time limit the funds had to be in the IRA if OP did that, before he could use them for a first time home buyer exception?
No. Any distribution from the IRA would be eligible for the FTHB exception to the early withdrawal penalty.
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