Lift Reporting Rule On US Expats' Foreign Pensions – American Citizens Abroad, Wealth Briefing Asia, July 11, 2024

Wealth Briefing Asia, July 11, 2024

Lift Reporting Rule On US Expats' Foreign Pensions – American Citizens Abroad

"An advocacy group for expat US citizens argues that lawmakers should adjust regulations so that foreign pension plans are exempted from what it says are onerous reporting requirements.

American Citizens Abroad said in a statement that all foreign pensions and retirement plans should be 'afforded beneficial treatment under income tax treaties and should be exempt from reporting.'

'These are savings plans that most US citizens overseas need to manage their day-to-day finances and should be viewed in the same light as US domestic pensions plans,' the organisation said in a statement yesterday."

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