KarenJ2
Expert Alumni

Retirement tax questions

I thought I would add my opinion to @pk opinion.

 

To be conservative, you may wish to report the the unrealized growth as ordinary income along with any interest and gains. The income in the foreign retirement fund may be classified as a PFIC, Passive Foreign Investment Funds, (which has complicated reporting requirements).  

 

TurboTax is not set up to handle PFICs.  

 

To be on the safe side, I would file the FBAR and Form 8938 if it applies. 

 

US Requirements for Foreign Pension Plans

 

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