Irene2805
Expert Alumni

Retirement tax questions

You do not have to report anything on your tax return until you make a withdrawal from the UK pension plan.

 

However, if the value of your UK pension plan exceeded $10,000 at any time during the calendar year you are required to file a FinCen 114 - Report of Foreign Bank and Financial Accounts (FBAR) 


FinCen114 is NOT filed with your tax return.  For information, please see this TurboTax Help article:  How do I file an FBAR report (FinCEN 114)?

 

For additional information on the US tax treatment of UK pensions, please see this article:   UK Pension Plans & US Tax Treatment