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New Member
posted Apr 18, 2025 2:57:02 AM

Can I keep my 401k if I move overseas and lose US residency?

Hi,

 

I am currently a US permanent resident and have been for 20+ years. I have had a 401k for some years. If I give up my residency and move back to my home country, do I have to withdraw the 401k? Or can I leave it in the US although I'm no longer a resident and ineligible to work in the US - would there be any penalties if I still waited until I was 60 years old, but lived in the United Kingdom while withdrawing the 401k from the US? I'm trying to decide if it's still worth contributing now. 

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1 Replies
Expert Alumni
Apr 18, 2025 5:46:28 AM

If you became a non-resident alien, your filing requirements and overall rules are different.  One thing that would change is there is generally a 30% withholding on distributions to a non resident. 

Since you would then be a non-resident alien, you could contact Sprintax.com with your questions as they handle non-resident alien returns so they would be better able to answer your questions.