Does your current tax professional understand KiwiSaver or Australian Superannuation? This is an incredibly complex, and frequently misunderstood area of the US tax code. In some cases, your NZ or Australian retirement accounts could be considered a trust by the IRS, or a Passive Foreign Investment Company.
It is critically important that your retirement fund is correctly reported on your US tax return, with heavy fines existing for failure to report correctly.
At US Global Tax Ltd., our extensive knowledge of not only the US tax system but also the respective Australian and New Zealand systems gives us the required expertise to understand and correctly report foreign retirement schemes.
Please call today for more information.