Search found 23 matches

by michaelotal
Sun Sep 29, 2019 1:27 am
Forum: Non-US Investing
Topic: Schwab - U.S. ETFs and ETNs restrictions as of September 19
Replies: 36
Views: 4412

Re: Schwab - U.S. ETFs and ETNs restrictions as of September 19

Has anyone come across good quality low cost broadly diversified non-US domiciled active ETFs which don't fall under the scope of PFIC? If yes, please advise as the institution, name and / or ticker. Many thanks!
by michaelotal
Sat Jun 08, 2019 3:34 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

Sounds like a good plan!
by michaelotal
Fri Jun 07, 2019 4:04 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

I'm in a similar situation. My current thinking after retirement is to establish residence in the US for a fiscal year where I'd take all the distributions needed for the next few years and move them to a taxable account. If the money is in a ROTH 401k, would it not make sense to roll over all the ...
by michaelotal
Fri Jun 07, 2019 3:54 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

Just made some contributions to my and my wife's solo roth 401ks at TD Ameritrade. In the confirmation message, they advise that they are reporting the transaction and the amount to the IRS. These messages can be printed and / or downloaded, and save to file. I also keep a spreadsheet to track elig...
by michaelotal
Thu Jun 06, 2019 7:21 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

individual solo 401ks are pre-tax whilst roth solo 401ks are post tax -- I was referring to the latter at TD Ameritrade. re roth IRAs, looking at my January 2019 consolidated statement from Fidelity, I can see the contribution to my Roth IRA account shown. ditto for the December 31st 2018 report wit...
by michaelotal
Thu Jun 06, 2019 2:40 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

Just made some contributions to my and my wife's solo roth 401ks at TD Ameritrade. In the confirmation message, they advise that they are reporting the transaction and the amount to the IRS. These messages can be printed and / or downloaded, and save to file. I also keep a spreadsheet to track eligi...
by michaelotal
Mon May 06, 2019 11:35 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

Re "But I'm still curious is how if Spain does not recognize Roths, it can actually tax them? What is the actual mechanism?" -- I don't have RentaWeb open in front of me, however from recollection there is a casilla on that in which pension income is declared during retirement. I suspect that Hacien...
by michaelotal
Sat May 04, 2019 1:11 pm
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

I understand the narrower threshold is that if you move away from spain for more than 183 days of your tax year then the tax residency here ceases. However, there is a broader requirement that the locus of your socio-economic life has to move. So, for example, if one's partner and dependent children...
by michaelotal
Thu Apr 04, 2019 2:02 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

I am not sure whether the brokerage firms keep a record after 7 years of contributions to Roth 401k, however the following link relates:

https://ttlc.intuit.com/questions/42376 ... tributions
by michaelotal
Sat Mar 02, 2019 11:19 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

Does anyone have thoughts about health savings accounts (HSA), used as a retirement account, if you retire in Spain? You can't really withdraw the money without steep penalties unless you are older than 65. Will you have to pay taxes on the capital gains in an HSA? Can it be considered equivalent w...
by michaelotal
Wed Feb 27, 2019 3:30 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

It's very useful to know about this. I'm a Spaniard currently working in the US and my company offers traditional 401K and Roth 401K to invest into (with matching). I have been postponing enrolling into either due to not knowing how those would be treated back in Spain when I go back and retire. Lo...
by michaelotal
Thu Feb 14, 2019 3:44 pm
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

This seems to remain something of a grey area. My understanding based on the webpage below of a Spanish tax lawyer and also from consulting with a American financial adviser is as follows for Roth IRAs and Roth 401ks 1) they need to be included on the modelo 720 declaration of ass 2) they do not nee...
by michaelotal
Sun Nov 11, 2018 1:22 am
Forum: Non-US Investing
Topic: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions
Replies: 14
Views: 1516

Re: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions

Thanks DJN - we both have Spanish domicile and will do at least until our youngest child finishes school in ~14 years. thereafter, we may well look to changing our domicile, however before that I hope to optimise as far as possible our estate planning for this period.
by michaelotal
Thu Nov 08, 2018 10:54 am
Forum: Personal Investments
Topic: 401k exception to European Economic Area PRIIPS trading restrictions?
Replies: 0
Views: 226

401k exception to European Economic Area PRIIPS trading restrictions?

On November 1st, TD Ameritrade announced that effective November 12th they would restrict EEA-based investors from trading in PRIIPS including ETFs due to changes in the EU regulatory framework I have responded that my Solo Roth 401k is out of scope for their restriction because REGULATION (EU) No 1...
by michaelotal
Thu Nov 08, 2018 10:19 am
Forum: Non-US Investing
Topic: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions
Replies: 14
Views: 1516

Re: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions

Ted thanks for your feedback on this. I am pretty sure that kids are not US citizens, and I have heard they cannot get green cards now unless moving there which is not planned. Based on your feedback and my own research so far, I have developed the following scenario analysis: Scenario 1: US citizen...
by michaelotal
Mon Aug 27, 2018 7:58 pm
Forum: Non-US Investing
Topic: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions
Replies: 14
Views: 1516

Re: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions

Thanks for highlighting the Article 1 Paragraph 3 caveat Ted - I hadn't noticed that connection with Article 20. I had expected that the US would want to tax pension distributions after crediting their taxation in Spain, and it was really the the applicability of the PFIC regulations specifically to...
by michaelotal
Mon Aug 13, 2018 6:26 pm
Forum: Non-US Investing
Topic: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions
Replies: 14
Views: 1516

Re: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions

It is nasty Ted - as I was reading up on the PFIC rules I was reminded of Alan Arkin's Yossarian when having Catch-22 explained to him for the first time, whistling then responding, "That's quite some catch!". Transitioning my spouse from MFJ to MFS requires a considerable amount of analysis as to t...
by michaelotal
Fri Aug 10, 2018 6:57 pm
Forum: Non-US Investing
Topic: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions
Replies: 14
Views: 1516

Re: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions

Thank you all for this very useful input. I hadn’t heard of the PFIC rules, and now I have had a chance to read up on them, I am impressed by their savagery. There are a couple of follow-on points here which I am seeking to explore -- if anyone is able to comment on, I would be grateful. 1) My wife ...
by michaelotal
Mon Aug 06, 2018 3:08 am
Forum: Non-US Investing
Topic: Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions
Replies: 14
Views: 1516

Euro-denominated ETFs in European institution to balance USD-denominated ETFs in US institutions

Hi (and apologies for cross-posting)! I would greatly welcome advice and thoughts on an issue I have been analysing, and have a block on seeing clearly the best way forwards. The context is that I am a US / UK dual-national residing in Spain for six years in the portfolio accumulation stage. I have ...
by michaelotal
Sat Jul 14, 2018 1:26 pm
Forum: Spain
Topic: Internaxx or IB [Ex-pat in Spain]
Replies: 2
Views: 1259

Re: Internaxx or IB [Ex-pat in Spain]

I researched into this recently. I am living in Spain and didn't want to use Interactive Brokers. I took the view that DEGIRO was the most appealing of the alternatives. There is an English-language option on its platform.
by michaelotal
Thu Mar 09, 2017 8:53 am
Forum: Spain
Topic: Compliant non-Spanish private pension schemes
Replies: 2
Views: 1366

Compliant non-Spanish private pension schemes

I have a query relating to pension schemes for expats resident and working in Spain. While pension contributions can be deducted against IRFP (la Renta), the pension products available in Spain are not attractive particularly compared to those available in the UK (e.g. ISAs, SIPPs) or USA (e.g. IRA ...
by michaelotal
Sat Mar 07, 2015 1:13 pm
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Re: Spain and Roth IRAs

Thanks for the replies, and apologies for missing out key information. I am a US citizen with a Roth, and my non-US citizen wife also has a Roth. I am interested in whether there is any way to deduct the Roth contributions against the Spanish income tax (la Renta). And also whether the balances of t...
by michaelotal
Sat Mar 07, 2015 12:28 am
Forum: Spain
Topic: Spain and Roth IRAs
Replies: 36
Views: 5969

Spain and Roth IRAs

Hi My wife and I are residing in Spain, and were wondering if there is any way that contributions to pension acccounts (specifically Fidelity Roth IRAs in the US) can be tax deductible. (The Spanish Pension Plan seem to be limited and have high commissions). Also, are there any legitimate grounds fo...