left the us. still have to pay taxes on my 401k?

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left the us. still have to pay taxes on my 401k?


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Old 12th May 2020, 10:26 AM
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Hello everyone.

I am Italian, and I worked in us from 2011 to 2014. I still have a 401k left there, and I would like to know if i still have to file taxes as a nonresident alien or not. thanks

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Old 12th May 2020, 01:22 PM
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If you just leave the 401K in place, you don't have to pay any taxes on it until you start withdrawing money from it. (Ideally on retirement or no earlier than when you reach the age of 59 1/2 when it's considered retirement money.

When you make withdrawals from the fund, unless you have taken US citizenship by then, the fund will automatically withhold taxes on the amounts you withdraw at the NRA (non resident alien) tax rate. That is currently at 30%. So, if you want to take out $1000, they'll take taxes out of $300 and send you $700. But there are no US tax filing requirements unless you have "business income" or other US sourced income that hasn't been taxed already.

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