Hi community,
I am originally from the UK but am now a LPR in the US. I live in the US and work full time here.
I voluntarily contribute to UK national insurance (equivalent to social security here) so I can get a state pension from the UK when I retire
I also worked in the national health service (NHS) in the UK before moving to the US. This had a pension scheme where automatic deductions were made from my pay at the time as contributions as well as equal contributions from my employer. I have not contributed to this since leaving the UK. There is no pot of money and this pension scheme is more like a membership. So there is no way to tell how much it is worth. I will receive distributions when I retire.
Since I am not receiving any income yet from either and I don’t know how much either is valued at, am I required to report this anywhere on my U.S. tax return or FBAR or FATCA yet? Or only when I receive distributions on retirement?
I look forward to any advice someone may have here.
kind regards
