Alien Worked in the USA for 2 years paid into an IRA about 18 years ago. Now the IRA has grown and I want to withdraw the money.
Currently 54 yr old.. Have not had any further US income and do not live or work in the US all these years. What is the best way to withdraw the money with the least tax burden.
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Tax Professional Answers
The fact that you are a non-US resident has no bearing on the situation. Since you are age 54 any withdrawal is subject to US income tax and the 10% early withdrawal penalty. Once you reach age 59 1/2 the penalty no longer applies, but withdrawals are still subject to income tax.Leave a Comment 324 weeks ago