I have an IRA account in the U.S. I have since moved to Italy. My investment house in the U.S. will not transfer my account to Italy due to international laws and I cannot take a full cash disbursement because the U.S. taxes will be very high. Are there any companies in Europe that will accept an American IRA and be it's custodian for me?
Answer:
You should be able to find a contact in Italy that can maintain the US IRA for you; maybe try one of the larger US brokers or fund managers (Merrill, Fidelity, Citi?) who have an office near you and who will be the custodian and/or manager for you. You don't need to physically transfer the IRA account to Italy (which may constitute a 'withdrawl') but rather you need to find a custodian with an Italian contact person -- doesn't really matter where the securities are kept does it?
Other Questions and Answers:How can I have my 401k pay for my full time MBA costs? I don't want to pay high taxes or a penalty.?
What do I do if I over contributed to my 401K plan by accident?
Who is the best broker for a limited income investor?
Can I wire someone money using my paypal account?
What bank can give me the Jack Nicklaus £5 note?
Is there a place online to get help with bills?
Anyone know where I can make a quick 50 or 100 bucks by Saturday and have it in paypal account?
You just won 5 million dollars!?