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Taxes on US earned retirement $$ ?

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HoustonTX
10/2/2009 14:49 EST

My question is about anticipated taxes on my retirement income - 401K, pension, Soc Security. Since I earned my money in the US, I know I must file and pay US taxes once I start to receive it. How will I be taxed in Brazil when this money is transferred to a Brazilian Bank? Is it taxable in Brazil?

I will be retiring in a few short years. We live in the US now. I am married to a Brasileira, so I will get a Permanent Visa before moving.

GoingCrazyGoing
1/4/2018 19:20 EST

Some people are missing the point here on a couple of issues =
Retiring to Brasil - being married to a Brasilian -

You will NOT get a retirement visa, you will get a 'SPOUSAL' visa. You can go in as a tourist and apply to the Federal Police (usually FP office at the nearest big intl airport) once there, takes less than 3 months. PERM VISA = RNE. OR you can use your BR embassy in the US.
Don't remember a financial requirement but might be R$2000 a month (USD $600)
Think bank statements for the last 6 months would work too.

The Federal Police are hard working great people there to help you. I decided to apply in person, and was easy and painless.

ASSUMING you are NOT going to work in BR, you don't pay ANY taxes to BR, only your regular US IRS filing each year.
Your wife's situation is the same.
IF you can work under the table, just put it in your pocket and forget it.

Once you have your RNE and a CPF (social sec card) you can open a bank account in BR. Sure you can move money from your US account. Stay away from FEDERAL banks like Caixa, Banco do Brasil but go to private - HSBC is the best I think - or Bradesco, Santander.

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mcousineau
1/1/2018 15:18 EST

I am planning to retire to Brazil within the next two years and have a question for the people who say to keep all your income in a U.S. bank. In order to get a permanent visa as a retiree, don't you have to demonstrate that at least $2,000 per month will be deposited into a Brazilian bank? So don't you have to reveal that amount? I am thinking that in the case of a couple, the man could apply for a permanent visa, with his wife as a dependent, then declare his Social Security check - if it is more than $2,000 - as their income. The wife's Social Security and the rest of their retirement income could be direct deposited to a U.S. bank and used to pay their monthly charges on an American credit card. Please correct me if I am mistaken about this.

mcousineau
1/1/2018 15:10 EST

The information that I received from the Brazilian Consulate in Washington DC is that retirees in Brazil have to pay taxes on ALL their income, including pensions from the United States. There is no tax equalization agreement between the U.S. and Brazil. In contrast, if you move to Portugal, you do not pay double taxes and no tax at all on Social Security.

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