Does anyone have actual experience of transferring pension funds out of the US and into Aus?
My main focus is ensuring I can remove the funds without withholding tax in the US. I really don't want to wait for another year and try and obtain a refund from the IRS.If there are any complications then its becomes hard work dealing with it from Aus.
I've spoken to my accountant in the US and a local one, but most accountants have virtually zero experience in both tax regimes and transferring pension funds.
Under the double tax treaty the funds would not be taxed in Aus (assuming zero growth since becoming Aus tax resident).
Withholding tax in the US would be at 30%, so thick end of $300k in play, and clearly not where I'd like to see these funds tied up for a year or longer.
Recommendations of suitable experienced adviser would be appreciated.
