>
Date: Wed, 31 May 2000 13:56:23 -0700
X-Mailer: Internet Mail Service (5.5.2651.58)
I recently moved my third pillar over. I paid 7% taxes (Quellensteuer) and
got the form Laurent mentioned below. What I wonder is, what kind of taxes I
would have to pay in the US on this money if I send in that paperwork (on an
H1B). I am certainly not going to pay >25% in the US to get the 7% back. The
IRS knows about the existance of the account and I paid taxes on the low
interest income last year to the IRS. However, if I just transfer the money
over (without getting the form signed), it is just like transfering your
savings account (ie not taxable AFAIK).
Anybody has any info on this part of the tax situation (without giving legal
advise :-)).
Best regards
Michael
> -----Original Message-----
> From: Laurent Vuilleumier [mailto:L_Vuilleumier_at_lbl.gov]
> Sent: Wednesday, May 31, 2000 1:29 PM
> To: swiss-list_at_swiss-list.com
> Subject: Re: swiss-list: Pension funds in Switzerland
>
>
> Hi everybody,
>
> I am precisely doing the same thing: getting back my pension
> funds (how could it be in English, 2nd pillar?) from Switzerland.
> When I left Switzerland I had transferred my pension fund to
> a foundation administered by UBS (actually, the situation
> changed one or two years ago). This pension fund had three
> account: regular account (interest rate between nothing and not
> much), secure investment and aggressive investment. Note:
> the aggressive one would look pretty tamed in the US.
>
> I got in touch with the person in charge at that foundation (by
> email and phone). He confirmed (and he looked absolutely
> sure of what he was saying, claiming he did that often) that:
>
> 1) One can get the fund if one was living in another country.
> 2) Some amount of taxes would be deducted at first.
> 3) The foundation would send me some paperwork to be
> signed by the IRS attesting that I am paying taxes in the US.
> 4) When I will have returned him the papers, the foundation
> will reimbursed me the TOTALITY of the taxes deducted.
>
> I did not yet started the process, because with the current $
> exchange rate this is sort of the worst time to transfer a sizable
> chunk of money from Switzerland to US.
>
> Hope it helps.
>
> Laurent
> --
> Laurent Vuilleumier e-mail: L_Vuilleumier_at_lbl.gov
> Lawrence Berkeley Laboratory phone : (510) 486-6108
> 1 Cyclotron Road, 29C fax : (510) 486-7303
> Berkeley, CA 94720
>
>
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Received on Wed May 31 2000 - 13:58:03 PDT
