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Old 05-01-2010, 06:21 PM
 
Location: Indiana
324 posts, read 506,364 times
Reputation: 351

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Those of you who have retired abroad:
1. Is your retirement income (SS, pension, etc.) a subject for tax in The USA, or in the country where you retired?
2. Is the SS administration sending you the monthly checks to foreign country, or do they go to your US based checking account, and from the account to your foreign country?
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Old 05-01-2010, 07:11 PM
 
Location: Indiana
324 posts, read 506,364 times
Reputation: 351
Quote:
Originally Posted by paulpan View Post
Those of you who have retired abroad:
1. Is your retirement income (SS, pension, etc.) a subject for tax in The USA, or in the country where you retired?
2. Is the SS administration sending you the monthly checks to foreign country, or do they go to your US based checking account, and from the account to your foreign country?
I may need to be more specific in question #1:
Retirement income from USA, but having citizenship also in the country (outsde of the USA) where I would retire.
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Old 05-02-2010, 02:01 AM
 
2,850 posts, read 3,941,769 times
Reputation: 3259
Quote:
Originally Posted by paulpan View Post
Those of you who have retired abroad:
1. Is your retirement income (SS, pension, etc.) a subject for tax in The USA, or in the country where you retired?
2. Is the SS administration sending you the monthly checks to foreign country, or do they go to your US based checking account, and from the account to your foreign country?
I have not retired yet so cannot answer #2. But for #1, I believe that any income subject to US taxation within the USA is also subject to taxation if you live outside the USA. But, with the Foreign Earned Income Exclusion ($91,400 this year), you probably won't have to pay any taxes. In other words, if your retirement income is below $91,400, there is no tax.

As to the foreign country taxing that income, it varies. Malaysia only taxes money earned locally so retirement income from abroad would be allowed in tax-free.
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Old 05-02-2010, 12:51 PM
 
1,296 posts, read 2,000,495 times
Reputation: 677
Quote:
Originally Posted by paulpan View Post
I may need to be more specific in question #1:
Retirement income from USA, but having citizenship also in the country (outsde of the USA) where I would retire.
Do you realize the U.S. does not recoganize dual citizenship. So if you get caught using a foreign country passport and citizenship to reside outside of U.S., you will face two choice: 1. heavy fine 2. choose one citizenship.
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Old 05-02-2010, 05:24 PM
 
Location: Indiana
324 posts, read 506,364 times
Reputation: 351
Teak, thank you.
Scott, no I didn't know, dual citizenship is not allowed. I actually only intended to regain a citizenship from my former home country (I lost it as a refugee, long time ago), but I may take a closer look at what you claim.
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Old 05-02-2010, 05:50 PM
 
8,211 posts, read 11,929,872 times
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Quote:
Originally Posted by paulpan View Post
Teak, thank you.
Scott, no I didn't know, dual citizenship is not allowed. I actually only intended to regain a citizenship from my former home country (I lost it as a refugee, long time ago), but I may take a closer look at what you claim.
Scott is wrong. The U.S. most definitely recognizes dual citizenship of those who have received citizenship from another country by way of birth or marriage. The only instance where the U.S. does not allow it is if a U.S. citizen voluntarily applies for citizenship from another country.

BTW, immigrants to the U.S. who apply for and receive U.S. citizenship do not have to renounce their former citizenship (unless their country of origin requires them to.) So most naturalized U.S. citizens maintain dual citizenship - fully recognized by the U.S. Government.
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Old 05-02-2010, 09:01 PM
 
Location: Indiana
324 posts, read 506,364 times
Reputation: 351
Thanks MadManof, I hope you are correct. When the time comes I'm gonna have to check on it anyway.
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Old 05-02-2010, 09:22 PM
 
8,211 posts, read 11,929,872 times
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Quote:
Originally Posted by paulpan View Post
Thanks MadManof, I hope you are correct. When the time comes I'm gonna have to check on it anyway.
You don't have to hope that I'm right. Here's the info directly from the U.S. Government's website:

US State Department Services Dual Nationality
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Old 05-02-2010, 09:52 PM
 
Location: Indiana
324 posts, read 506,364 times
Reputation: 351
Quote:
Originally Posted by MadManofBethesda View Post
You don't have to hope that I'm right. Here's the info directly from the U.S. Government's website:

US State Department Services Dual Nationality
All right, then thank you for the info! Certainly helpful.
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Old 05-02-2010, 09:57 PM
 
8,211 posts, read 11,929,872 times
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Quote:
Originally Posted by paulpan View Post
All right, then thank you for the info! Certainly helpful.
My comment may have come out wrong. What I was trying to say was that you didn't have to rely on some anonymous poster's comment (mine), but rather that I would help you out by providing a link to the official policy of the U.S. Government.
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