Rollover IRA for nonresident

Yes (sort of) - a complication with the foreign earned income exclusion. See

She will need income which is greater than $91,500 (for 2010) to be able to contribute to an IRA.

Sigh. As I think I said pretty clearly, the question is about rolling over an existing IRA, not about new contributions.

Here's the same question again: Is it a legal problem for a US citizen who is nonresident to set up a new IRA and roll an existing IRA into it?

R's, John

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Because my son may soon be in same position, I just now looked at Vanguard and Fidelity's online application forms for transfering IRAs between institutions, and they both allowed for addresses outside the US (fill-in box for "Country").

So unless there is more to know, it does not seem to be an issue, as long as funds stay in the US.

FWIW, it seems that "rollover" is wrong term to use vs. "transfer"

Have her get a local address (including using a friend's/relative's or PO Box). That should solve the problem.

Clearly that is an answer. The question is whether that is legally necessary. I'm not an expert on IRA's, but the brief research I have done discloses no requirement that someone holding an IRA have a US address. ___ Stu

Hmmn. I don't think I asked "How could she lie and claim that she's a US resident, possibly causing all sorts of other problems since she is and wants to be a UK resident?"

So here, one more time, is the question: Is it a legal problem for a US citizen who is nonresident to set up a new IRA and roll an existing IRA into it?

If you don't know the answer, it's OK not to write back.

R's, John

No.

She's a U.S. citizen. Residency doesn't matter.

And Stussy certainly knows the answer.

I went back to look at §408(d). The statute specifies no requirement that a rollover be limited to US residents. ___ Stu