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What are the tax implications of my foreign pension or retirement plan?

Just as with domestic pensions or annuities, the taxable amount generally is the Gross Distribution minus the Cost (investment in the contract). Income received from foreign pensions or annuities may be fully or partly taxable, even if you do not receive a Form 1099 or other similar document reporting the amount of the income. In general, your foreign pension and retirement plan should also be reported on the FBAR and Form 8938, if required. Depending on how the plan is structured, there may be additional reporting requirements on Forms 8621 and 3520. We suggest contacting a tax professional that specializes in taxation for expats if you are unsure of the filing requirements related to your foreign pension or retirement plan.

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Updated: June 2, 2018

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