[dana_quinn]

Hello,

I am a US citizen living in France.
I have a UK pension that was moved to Malta in 2020 in a QROPS scheme, since there was some thought that post Brexit rules might be unfavorable to someone living in the UE (i.e. France). Once I start drawing on it, I was told I would pay income taxes in France as a tax resident. But I have heard that the US considers Malta to be non-compliant and wondered what the implication is.

I know I will need tax advice but I wondered if there was anyone in this situation. I won't withdraw for about 5 years.

Many Thanks
Dana

 

[B Codrington]

Hello,

I am a US citizen living in France.
I have a UK pension that was moved to Malta in 2020 in a QROPS scheme, since there was some thought that post Brexit rules might be unfavorable to someone living in the UE (i.e. France). Once I start drawing on it, I was told I would pay income taxes in France as a tax resident. But I have heard that the US considers Malta to be non-compliant and wondered what the implication is.

I know I will need tax advice but I wondered if there was anyone in this situation. I won't withdraw for about 5 years.

Many Thanks
Dana

You need to read the CAA issued by IRS. It does not target Employer Pensions. There are also tax benefits in France if you know what you are doing. You need proper advice, not gossip

 

[dana_quinn]

You need to read the CAA issued by IRS. It does not target Employer Pensions. There are also tax benefits in France if you know what you are doing. You need proper advice, not gossip

thanks. I am not sure what CAA is from googling but will certainly get advice.

 

[B Codrington]

https://www.irs.gov/pub/irs-lbi/malta-competent-authority-arrangement-pension-funds.pdf