Maltese Pension Plans: The Malta/US Income Tax Treaty

Over the past decade, pension plans have been established and licensed in Malta with particular consideration given to US taxpayers. 其中许多计划旨在接受美国人拥有的外国养老金计划(尤其是英国养老金计划)的“滚转”，将符合英国税收目的的合格认可海外养老金计划(QROPS)的递延税收优惠与马耳他养老金的美国递延税收优惠结合起来.

这些计划的催化剂是马耳他/美国所得税条约(2011年生效)，该条约解决了两个缔约国的双重征税和主要税收权利. The definition of a “pension fund” in this Treaty is broader than in most other US treaties, 其中简单地指出，“‘缔约国一方居民’一词包括……在该国设立的养老基金……尽管其全部或部分所得或利得可以根据该国国内法免税。.它进一步规定，在马耳他设立的养恤基金必须是“持牌基金”，“主要是为了管理或提供养恤金或退休福利而经营”.”

该条约还规定，“缔约国一方居民受益所有的养恤金和其他类似报酬，应仅在该缔约国征税,，并补充说，“尽管……在缔约国一方产生的任何此种养恤金或报酬数额, when received, 如果受益所有人是该缔约国居民，将在该缔约国免税。应在受益所有人是该缔约国居民的缔约国免税.” This tax treatment is further confirmed in subsequent Treaty articles. In short, these Treaty Articles provide two key points:

• A US taxpayer is not subject to US tax on income earned within a Maltese pension fund until it is distributed, and
• The receipt of a distribution, if tax-exempt to a resident of Malta, is also tax-exempt if distributed to a US taxpayer.

In terms of US tax law, 基于投资的养老金计划通常被视为授予人信托——它们在税收上是透明的，收入也是透明的, gains or losses within the plan are passed onto its owner. 这些计划要求提交与信托相关的纳税表格表格3520-A外国信托年度信息申报表.S. 所有者和3520年度申报表，报告与外国信托的交易和收到某些外国礼物. Some US taxpayers have then claimed Treaty benefits exempting income and gains of their pension funds. To be effective, 此豁免职位必须通过在美国个人所得税申报表中提交8833表格进行披露.

On July 1, 2021, 美国国税局宣布，它将评估涉及马耳他养老金计划的交易，以确定是否应根据《澳门官方老葡京》允许所要求的福利. Then in December 2021, 马耳他主管当局和美国主管当局根据该条约达成了主管当局安排(CAA). 该CAA指出，美国纳税人一直在“根据2011年《澳门官方老葡京》在马耳他建立个人退休计划，不受就业或自营职业收入的限制，并以现金以外的形式向这些计划捐款。,“导致问题”，即这些个人退休计划是否属于适用《澳门官方老葡京》的“养恤基金”.“CAA得出的结论是，如果养老基金被允许以现金以外的形式接受参与者的捐款，或者不以个人服务的收入为参考来限制捐款, 这种基金“不是主要为管理或提供《澳门官方老葡京》第3条第1款(k)项意义上的养恤金或退休福利而运作的，因此不是“养恤基金”.”

There has been significant commentary and criticism of the CAA, notably on administrative and constitutional law grounds, but that discussion is for another article.

On July 1, 2022, the IRS issued its “Dirty Dozen” tax scams for 2022, 包括通过向马耳他的某些外国个人退休安排提供捐款，以及不恰当地声称外国安排是条约目的的“养老基金”，以避免美国税收, the US taxpayer misconstrues the relevant treaty to improperly claim an exemption from US income tax.

The IRS is now actively examining taxpayers who are participating in Malta pension funds. Various examinations have been initiated, with information document requests issued, and it seems that any current Treaty benefit claims will be denied if the return is audited. 过去的福利申请也可能会被拒绝，并可能导致对纳税人进行税收调整. 鉴于国税局的公告和CAA的发布，纳税人应考虑是否在2021纳税年度采取基于条约的申报立场. 此外，还应评估以往任何基于《澳门官方老葡京》的立场和披露情况，以决定是否主动修改以往的申报，或在审查后对其立场的合理性提出论证.

对于在马耳他养老金问题上采取条约立场的纳税人，IRS没有提供任何指导, but the good news is that by definition Form 8833 is a disclosure of that position and that prior to the CAA, 鉴于《澳门官方老葡京》给予马耳他养恤基金的特殊地位，条约的立场应该是合理的.

If you have any questions on this or other US tax issues, please get in touch.

Article written by Gregory Dean