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Taxed on savings ?

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happy2retire
8/12/2016 07:10 EST

When transferring money(savings) from US to Sweden bank, will that money be subject to taxation?

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bmg123
10/5/2016 05:31 EST

NO

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OliverTopham
10/25/2017 07:11 EST

As a US Passport holder you will always be subject to FATCA reporting and income tax of whichever country you domicile your funds,

Meaning even if you are moving your savings for example a 401k to Sweden you would still need to report to the IRS as well as paying Swedish income tax.

If you wish to look at any options that may be available to you to avoid this please feel free to message me.

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