US Owners of Foreign Personal Pension Plans

US taxpayers often participate in foreign pension plans as these can be useful, tax preferred, investment tools in the jurisdiction where they are tax resident.  Complexities arise with how these plans are reported to the IRS, especially considering the substantial US tax penalties associated with non-compliance.

What is a Foreign Private Pension Plan?

养老金计划包括国家养老金、工作单位养老金计划和个人(私人)养老金计划.  在美国境外设立和管理的养老金被视为“外国”养老金。个人养老金计划与工作场所或国家养老金计划的主要区别在于，投资者对资金的投资方式有发言权，而且通常对计划的分配方式有更好的控制权.  我们遇到了几种类型的外国私人养老金计划，最著名的是SIPPs和SASSs在英国和马耳他养老金计划. 

US Tax Treatment of private Foreign Pension plans

Generally, US pension plans are straightforward to report. However, 外国个人养老金计划可能被视为外国授予人信托(出于美国税收目的)，因为投资者对投资和分配有一定程度的控制，并被视为计划的“所有者”.“结果是额外的美国税务申报要求，而这些要求并不总是容易驾驭的.

Double Tax Treaty Protection

美英双重征税协定有助于在SIPP被视为“合格计划”的基础上，在SIPP安排下实现美国免税收入累积.“当养老金计划拥有外国共同基金和外国集体类型资产时，这尤其有用, 因为“合格”的身份使得这些基础资产更繁琐的报告可以在美国的税务报告中被有效忽略.  

Malta Pension Plans have attracted recent IRS scrutiny when they were listed on the IRS’s annual “Dirty Dozen” list of common taxpayer “scams”. 拥有马耳他养恤金计划的纳税人利用美国/马耳他双重征税条约向该计划缴款，并利用该条约规定的优惠养恤金福利从该计划中提款. In December 2021, 马耳他主管当局和美国根据该条约签订了主管当局安排(CAA)，规定美国纳税人建立“个人退休计划”,“不以就业/自营职业收入为限制，并以现金以外的形式向马耳他养恤金计划缴款, 那么这种计划就不符合《澳门官方老葡京》的精神，因此也不符合《澳门新葡新京官方》的预期目标. As a result, the Malta Pension Plan is not a “pension fund.”  This position is being challenged. You can read more about that here.

US Tax Compliance and associated penalties:

以投资为基础的个人养老金计划通常被视为外国授予人信托.e., 它们在美国的税收是透明的，计划中的收入收益/损失直接转嫁给其美国所有者. 外国养老金的 报告要求 通常很复杂，可能包括提交以下美国纳税表格:

• Form 3520-A: 外国养老金计划受托人报告养老金(信托)的详细信息，其中包括提供给养老金计划成员的额外信息，以便他们也可以填写自己的美国纳税表格.  
• Form 3520: For the US pension plan member to report their connection with a foreign pension plan.
• Form 8938: For the pension plan member to report details of their foreign financial assets, including foreign pensions, if they meet the filing threshold  
• FinCEN114
  (FBAR): 供养老金计划成员在符合申报门槛的情况下报告其外国银行和金融账户的详细信息  
• Form 8833: 对于美国计划成员，申请任何可用的双重征税条约福利，豁免其养老基金的收入和收益，从当前的美国所得税..
• Form 8621: 外国养老金计划的基础资产可以投资于被动型外国投资公司(PFIC).  Simply, these are foreign mutual fund/collective type investments.  Onerous tax implications can arise from owning PFIC investments. 

Penalties for incorrect or missing US tax forms:

Penalties for Form 3520-A (greater of $10,000 or 5% of the pension value) and Form 3520 (greater of $10,000 or 35% of any property distributed from the plan) can be substantial.

The penalty for not filing an FBAR is $14,489 if non-wilful, and the greater of $144,如果美国纳税人被发现故意不遵守规定，则应缴纳886或50%的税款.

When to File US 2022 tax forms:

• Form 3520-A: By 15th March 2023. With an extension, 15th September 2023.  
• Form 3520: By 17th April (or 15th June if the taxpayer lives abroad).  With an extension 16th October 2023.
• Form 8938: By 17th April (or 15th June if the taxpayer lives abroad). With an extension 16th October 2023.
• FinCEN114
  (FBAR): By 17th April. With an extension 16th October 2023.
• Form 8833: By 17th April (or 15th June if the taxpayer lives abroad).  With an extension 16th October 2023.
• Form 8621: By 17th April (or 15th June if the taxpayer lives abroad). With an extension 16th October 2023.

How we can help:

US Individuals: 我们与美国纳税人合作，协助他们年度美国税务合规，报告他们的海外个人养老金计划和海外投资.

Foreign Pension and Providers/Trustees: 我们为那些让美国会员投资其海外养老金计划的大型和小型养老金提供商提供协助. 我们通过准备提交给美国国税局的美国税务表格(表格3520-A)，并向其美国成员提供表格3520-A外国授予人信托所有者声明(及支持声明)，帮助他们履行有关外国养老金计划的个人美国税务申报义务，从而帮助他们履行受托人义务.

我们还与养老基金提供商/受托人合作，协助他们建立内部系统，以确保数据质量良好, that is US tax compliant, is available to help them meet with their trustee obligations.

Article written by Tas Meghani