Nonresident 401K/IRS Withdrawals with IRS Tax Treaty: Oftentimes, a Person who is now a nonresident (and no longer a US Person) of the United States may have at one point in their career earned income in the United States — and accrued 401K or other types of deferred eligible pension. The 401K  is the most common type of deferred retirement and pension plan in the United States — and the one that tends to cause the biggest issue for nonresidents when it comes time to begin receiving distributions and dealing with the IRS. While the general withholding rate for a nonresident is 30% — there may be ways for the nonresident to minimize withholding and/or reduce taxes altogether — depending on whether or not there is a tax treaty in place between the country of residence and the United States, and whether or not the nonresident has other US income, such as real estate income and made an ECI election — although that comes with it’s own set of headaches….(read more)

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