How can I roll over a 401K to IRA if I've moved to France and no longer have US residency?

We moved in August, so have spent most of the year in the US and will be paying taxes there this year. It's my husbands 401K and he's a Danish citizen (I'm american) but also US green card holder. All IRA rollover applications say non-residents need not apply. They are closing his company in the states and we have to do something this month!

2 Answers

  • 1 decade ago
    Favorite Answer

    If you are already a resident of France, you can't. You have to take a withdrawal first so it can be taxed (possibly 30%). You know the IRS wants their money.

  • 1 decade ago

    First of all, the question and situation is too complex to rely on free, anonymous advice. That said, here are my thoughts.

    Do you both intend to return to the US as citizens? If not, it doesn't make much sense to roll into an IRA (and I don't think it is possible anyway since he's a Danish citizen). It sounds like you should take a distribution and save the money for retirement through another means (you'll have to pay a penalty and taxes).

  • 1 decade ago

    Im not sure I will be much help but I recommend you call Fidelity. They helped us roll a 401k over to an IRA for a job my husband is no longer at. If nothing else they will be able to answer your residence question.

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