When you change jobs, everything you need to take with you can be neatly packed into a box – except your retirement plan. When you leave your job, you need to think about rolling your 401(k) into an IRA (Individual Retirement Account). If you left your job to make aliya,… Read more
As a U.S. Certified Financial PlannerTM sitting in Jerusalem, I work mostly with immigrants who keep their assets in American investment accounts. When a recent oleh listed the various retirement plans that he held in the United States, he mentioned:
Is your investment account in jeopardy because of your address? If your American brokerage firm no longer wants to hold your account because your legal address is not in the United States, you may find useful information in this free Profile Toolkit.
Financial companies follow strict regulations for all their clients…. Read more
American citizens living overseas often need to file U.S. taxes from abroad, even if they don’t owe any money. If you live in Israel, gathering the information you need to complete your taxes from Israeli banking and financial institutions can be tricky since foreign institutions don’t produce 1099 forms. So what is an American living abroad to do?… Read more
When your stateside broker sent you a surprise letter, did it contain good news? Many Americans in Israel (and non-Americans, too) have received a letter from their U.S. investment firm or bank informing them that they need to close out their account. In some cases, the brokerage firm does not shut down the account,… Read more
When making aliya, many olim move their American assets to Israel and convert all their dollars to shekels. However, there is a strong case to be made for leaving your dollars in America. Having helped Americans living in Israel open and maintain U.S. IRA and investment accounts for over 25 years,… Read more
What happened when you opened your first Israeli bank account after making aliya?
A new oleh recently told me: “I just tried your online tool to find out what I need to know about having a U.S. brokerage account now that I’ve made aliya…. Read more
If you inherit an IRA (Individual Retirement Account), you may be tempted to simply withdraw the funds and put them into your own name. But if you do, you would possibly be making a big mistake. Instead, you should transfer the money into a “beneficiary IRA” account.
Money in an IRA is tax-deferred in America,… Read more
This past week, my office phone rang several times with non-Americans inquiring about opening American brokerage accounts.
Given the hassles of dealing in some of the more popular offshore jurisdictions, and given the many benefits of keeping investments in the United States, these people were happy to see how they could easily invest through a U.S…. Read more
Whenever I mention the acronym FBAR, Americans often say one of two things: “F what??” or “I don’t need to do that.”
What’s an FBAR?
The “Report of Foreign Bank Accounts” (FBAR) is a required U.S. government form, which is important in the post-9/11 world. The purpose of the form is to alert the authorities about accounts held outside the United States with a total value of $10,000 or more at any time during the year…. Read more
