Moving to the United States for work can create financial opportunities, but it can also introduce tax and investment rules you may have never encountered before.

In Episode 36 of the Divorce the IRS Podcast, Jimmy explains some of the financial issues foreign nationals should understand when living and working in America, including reporting foreign accounts, FBAR requirements, PFIC investments, U.S. retirement plans, Social Security, and international tax treaties.

You’ll learn why investments you owned before moving to America may create unexpected U.S. tax consequences, why foreign mutual funds and UCITS funds can become particularly complicated, and how choosing between a traditional and Roth 401(k) can affect someone who eventually plans to leave the United States.

Jimmy also walks through an example comparing two expats who make different 401(k) choices and discusses Social Security, totalization agreements, and how tax treaties may affect foreign nationals investing in the United States.

FREE GUIDE FOR EXPATS LIVING IN AMERICA:
https://baobabwealth.com/foreigners-in-america/?guide=foreigners-guide-download

LISTEN TO THE ABROAD IN AMERICA PODCAST:
https://baobabwealth.com/abroad-in-america/

BAOBAB WEALTH ABROAD:
https://baobabwealthabroad.com

This episode is for educational purposes only and should not be considered individualized tax, legal, or investment advice. Cross-border tax and financial rules can be complex, so consider consulting appropriately qualified professionals regarding your individual circumstances.

A few clarifications to the discussion in this episode: Roth 401(k) employer matching contributions are only treated as Roth if the employer plan offers that option and the employee elects it; otherwise, employer matching contributions are generally pre-tax. Social Security Totalization Agreements do not “transfer” benefits between countries, but can allow U.S. and foreign coverage to be combined for eligibility purposes, with each country paying its own benefit. Finally, tax treatment of investment gains depends on tax residency, account type, and applicable treaty rules, not nationality alone.

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