Permalink Submitted by Alan - IRA critic on Thu, 2014-04-17 19:17
I can’t tell you how it will be taxed, as it depends on the tax treaty between the US and Japan. There is also the question of RMDs vrs a lump sum distribution. US taxes will certainly be due, but don’t know what the rate will be, or if Japan will also tax. If both countries levy a tax, there could be credits that eliminate double taxation.
Permalink Submitted by Rick Tenison on Thu, 2014-04-17 19:16
Let’s try this again. How is an IRA taxed to a foriegn beneficiary?
Permalink Submitted by Alan - IRA critic on Thu, 2014-04-17 19:17
I can’t tell you how it will be taxed, as it depends on the tax treaty between the US and Japan. There is also the question of RMDs vrs a lump sum distribution. US taxes will certainly be due, but don’t know what the rate will be, or if Japan will also tax. If both countries levy a tax, there could be credits that eliminate double taxation.