US Pensions (401k + IRA) advised from UK

Consolidate, Plan, and Maximise Your US Pensions for a Secure Future with UK Financial Advice

If you are a US resident, an expat who has worked and lived in the USA, or you are moving from the US to the UK, taking care of your retirement savings can be daunting. Managing 401(k), IRAs, and UK pensions is not easy and can be improved by using a financial adviser. Its complicated with pensions in the USA and Other countries. As a non-resident of the USA, maximise 401k or IRA management towards retirement with an adviser who can advise you on your US pensions alongside your other retirement savings.

At Edale, we are experts in assisting American expats and cross-border retirees in making pension decisions on 401ks and IRAs; we can take on the chore of investing, managing and allocating your US-based pensions and walk you through how best to handle your 401(k), IRAs alongside your UK pension funds.

Who we help

• US Expats in the UK: If you are a US expat and live in the UK, you will probably have a few different retirement plans, including a 401(k), IRA, and UK pension plan. We can advise your pensions cross-borders.
• Americans Changing from the US to the UK: You don’t have to give up your pension planning or contributions when leaving the US to the UK. We can optimise your US pensions (401(k)s, IRAs etc) and align with your UK pension for a seamless retirement strategy.
• Former US Workers: If you worked in the US and/or got pensions from US companies before returning to the UK we can create a single plan for all your retirement funds to maximise retirement benefits.
• Cross-Border Pension Pot Holders: If you’ve worked in the US and the UK and have retirement accounts in both countries, we have a complete solution to handle and grow your pension pots.
• US Pension inheritance: when someone inherits retirement fund assets after the death of the pension owner, they can inherit the IRA if they are a spouse or rollover to an existing IRA if they have one. If the rollover route is selected, it can be accomplished by a direct trustee-to-trustee transaction. Or it can be done by taking the funds from the account as a distribution and depositing them into another IRA within 60 days. Waiting longer than 60 days to re-deposit the funds into an IRA risk having the distribution taxed like income.

How We Can Make Your US & UK Pensions Easy For You

1. Allocation of US and UK Pensions for Simplified Administration
   Keeping on top of different retirement accounts in different countries isn’t easy. We’ll consolidate your 401(k), IRA, and UK pensions into a master plan whilst assets are in multiple pensions, so you can focus on a personal financial strategy we built for you and then keep track of contributions and growth.
2. Examining IRA Conversions for UK Tax Efficiency
   If you’re a US expat, you may find that converting your regular IRA to a Roth IRA is appealing. Roth IRAs are tax-friendly in the US and UK, so when you contribute and withdraw your Roth IRA, you will not be taxed on your growth and distributions, which makes it an excellent long-term retirement investment.
3. Figuring Out the Tax Context Of The US & UK Retirement Accounts
   Taxes in the US and the UK can be different. We’ll keep you up to speed with the possibility of double taxation and advise you on tax treaties so you don’t pay unnecessary fees. Tax planning can improve your retirement.
4. Long-Term Retirement Planning – Financial Modelling for Long-Term Retirement Planning.
   Retirement planning doesn’t just consist of building up funds. It’s about growing your money the best you can. We can provide financial modelling so your US and UK pension pots are balanced to ensure you’re saving for retirement, investing wisely with regular reviews and preparing yourself for the life you desire.
5. Review Your Contributions to Avoid Penalties
   Each nation has a different maximum and rules about additions to your retirement accounts. We’ll look at your contribution amounts to both your US and UK accounts to see if you’re not overcharging and facing a penalty.

Retirement planning in more than one jurisdiction is not simple. Whether you are thinking about a 401k to IRA transfer, IRA conversion, retirement account consolidation, or just trying to get your contributions in line with the tax law, you will want to make sure you consult a reputable financial professional to ensure that you stay in the know.

The US-UK pension and tax laws are confusing, but with Edale by your side, you can relax knowing you’re making informed choices based on your long-term objectives. Don’t leave your retirement to luck — make a plan.

Types of US Pensions we advise

We provide expert advice on a wide range of Individual Retirement Accounts (IRAs) to fit your financial strategy, such as:

• 401k Rollover to IRA: A rollover IRA is a retirement account that allows you to move money from your former employer-sponsored plan to an IRA tax and penalty-free.
• Traditional IRA: An individual retirement account that lets your earnings grow tax-deferred. You pay taxes on your investment gains only when you withdraw in retirement.
• Traditional Rollover IRA: A rollover IRA is an individual retirement plan you’ve rolled money into from an employer-sponsored plan. A rollover IRA isn’t technically its own type of IRA. Instead, you can use a traditional IRA or Roth IRA as a rollover IRA. A rollover IRA can be a traditional IRA, meaning it has the upfront tax advantage.
• Classic Inherited IRA: an individual retirement account (IRA) you open when you’re the beneficiary of a deceased person’s retirement plan. Most types of IRAs or workplace retirement plans can be transferred to an inherited IRA, including traditional, Roth, SIMPLE, and SEP IRAs, as well as 401(k) plans.
• Roth IRA: Tax-free growth account for those who anticipate higher tax rates at retirement.
• Roth Inherited IRA: When you inherit a Roth IRA, your money gets the same tax-advantaged treatment as the original account.

Funding Your IRA

Understanding your funding sources is important to create a solid retirement planning. Here are different methods to fund your IRA:

• Put money in: Invest up to IRS limits into retirement savings. Contributions are filed with the IRS on 5498.
• Rollover: Move money from a current IRA account within 60 days of distribution. It’s a method that matches account types, and the IRS records it.
• Direct Rollover: Transfer money from employer plans (401(k), pension) directly to an IRA without tax and penalty.
• Trustee-to-Trustee Transfer: Make asset movement between trustees effortless with no direct distributions. This is not reported to the IRS but still needs account type and Tax ID validation.

We make sure that every form of financing supports your long-term budget as well as IRS compliance. To get a free quote on US retirement accounts, book a conversation with our Financial Advisers.

Sensible and Transparent Fees: No Hidden Costs, Just Clear Financial Guidance

Dual Citizens are often shocked by huge fees and surprise costs. We don’t believe the complexity of international retirement planning should be matched with hefty initial fees and large ongoing maintenance fees. High fees eat into your retirement plan, so our advice focuses on giving you value and moderate costs that are the same as if you are someone who had lived and worked their whole life in the UK.

We take a simple approach to fees. We offer a one-stop shop for all our customers with advice on what they need, when they need it covering US pensions, UK pensions or both — with a single transparent fee. This saves you from surprise fees and enables you to get earn and contribute to your retirement while we have binoculars on the horizon and invest your portfolio with the real work: building your retirement nest egg.

What You Get With Edale’s Open Fee Model:

• No hidden fees: Our fees are entirely clear, so you won’t get any surprises or out-of-blue costs.
• Simple, Fair Fees: With our flexible charging structure, we can offer Advice on Demand or ongoing advice. With a straightforward advice process, you get to share all the information you need and make
• Cost-Effective Financial Planning: We aim to make expert advice accessible and affordable, ensuring you get the best possible value without compromising on quality.

If you choose Edale, you’ll receive expert, cross-border pension planning. Whether you need help with your 401(k), IRA, or UK pension pot, we work to maximise your retirement savings.