US citizen abroad can they contribute to IRA?
Clients son lives in Czech Republic
He is a US citizen. Working in Prague.
Income approx 100k
No 401k at work.
Wants to contribute to IRA and/or ROTH
Larger custodians won’t let me set up.
Can he contribute to an IRA or Roth ?
Any suggestions as to who he can set it up with?
Thanks
John McNamara
Permalink Submitted by Alan - IRA critic on Mon, 2022-04-25 17:03
A contribution is allowed, but if the foreign earned income exclusion is more than earned income, there is no earned income left for the contribution. You might try Schwab, as Schwab is more active in serving overseas clients.