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U.S. pension and taxes

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JacksterJam

8/16/2015 14:12 EST

Hi. I am a U.S. retired teacher with a state pension currently residing in Italy. I have been traveling to the Netherlands and I am considering a move. I have been researching the question of taxation in the Netherlands and can't seem to get a handle on the answer to this question: will the Netherlands tax my teacher's pension from the U.S.? I have read that they will tax only that portion that I bring into the Netherlands. My pension is deposited into my U.S. bank account and I generally only transfer enough money to my bank in Italy to pay rent and utilities; I anticipate that I would do the same in the Netherlands (I will not be depositing my monthly benefit into a bank account in the Netherlands). Can someone point me in the right direction so I can understand what my tax obligation would be in the Netherlands? At this point, I do not need information regarding tax-deferred plans (401K, 403b, etc.), or U.S. Social Security income as I do not receive either. Thanks in advance!

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georgedrurysmith

8/16/2015 15:05 EST

I suggestyou contact the Belastingdienst and also a Dutch tax advisor.. I had residence for a little over a year it it appeared to me that my US income (Social Security and IRA) were taxable, as well as my "worldwide wealth." And of course as a US citizen, I had to pay US taxes as well.

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DGL

9/30/2016 16:29 EST

Hi Jackster, did you get a definitive answer to your question? I, too, am considering relocation to the Netherlands but am concerned that my Federal pension, rental income, and investment income will be severely taxed. Are there any offsets? I am hoping against hope that, perhaps, my pension will not be taxed (or taxed at a lower rate). Thanks for any information you can send my way!

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JacksterJam

9/30/2016 21:03 EST

No, I didn't. I realized that my heart is in Italy and, while The Netherlands is lovely, I'll stay put for a while. You can do a search for the tax treaty between the U.S. and the Netherlands, which will outline taxation for you.

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Englebird

10/1/2016 11:26 EST

Hi, I've been here almost 2 years. I am registered in the Netherlands as I opened a tiny business. I have an accountant. Currently, I also receive a tax exempt pension from Connecticut. I have not ever been approached or the topic discussed in any of my transactions with the process of my registration. I, also, receive Social Security. Maybe, I'm naive, most likely, but, given numerous opportunities from the Chamber of Commerce, IND and Amsterdam City Hall not mentioning any taxes from my United States funds, I assumed they aren't going to tax me, I'll hope for the best. I will be paying taxes on any income generated by my business. I did need to provide €4000 + proof to open my "business". The Dutch/American Treaty allows us to open a business and therefore become a registered citizen. I, too, looked at Italy because of my heritage. I'm in Amsterdam, English is fluently spoken here. I'll cross my fingers and keep an eye on your posts. Good luck. I'm registered until 2018 and plan to stay put.
Francesca

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