Rollover to Puerto Rico IRA

Submitted by abraham boznick on Sat, 2019-03-09 20:57

Can one roll over a regular 401k or regular IRA to Puerto Rico IRA? Assuming that the account owner has become Puerto Rico resident?



Submitted by Alan - IRA critic on Sun, 2019-03-10 17:02

I don’t think so. Puerto Rico has different retirement plan rules. Even if you could, you may not want to given the limited investment offerings in a PR plan.

Submitted by William Tuttle on Sun, 2019-03-10 19:58

  • I wondered what Alan was talking about with limited investment options.
  • I was stunned to find out that you must invest 34% in Puerto Government Securities PGS and 67% in Puerto Rico assets including PGS.
  • How is that even constitutional? They are after all U.S. citizens.
  • I can’t even begin to imagine the havoc the PR debt problems have had on people’s IRA returns.
  • There would be a second American Revolution if that was tried stateside.

Submitted by abraham boznick on Tue, 2019-03-12 03:26

I asked the question — because  I was wondering you might be able to receive a better tax treatmnet on withdrawls from Puert Rico IRA. As there are substantial tax benefit (as reduction or sometime elimination of federal taxes for Puert Rico residents).

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