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llihk57
New Member

Can a lump sum pension from switzerland be rollover to an IRA account to defer tax payment?

 
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dmertz
Level 15

Can a lump sum pension from switzerland be rollover to an IRA account to defer tax payment?

A rollover to an IRA can only be made from a qualified retirement plan that is established under the US tax code.  A pension from Switzerland is not such a plan.

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3 Replies

Can a lump sum pension from switzerland be rollover to an IRA account to defer tax payment?

Pension income cannot be used to fund an IRA.

dmertz
Level 15

Can a lump sum pension from switzerland be rollover to an IRA account to defer tax payment?

A rollover to an IRA can only be made from a qualified retirement plan that is established under the US tax code.  A pension from Switzerland is not such a plan.

llihk57
New Member

Can a lump sum pension from switzerland be rollover to an IRA account to defer tax payment?

Thank You yes that agrees with what I found when I looked at different ex-pat web sites.

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