The United States, and in particular the IRS, will always want to be informed of your financial situation, regardless of where you may be working or living. This is particularly important once you return to the US, and if you choose to continue to hold investments and pensions abroad.
At Harrison Brook, we understand that you may have built up various pensions, assets or investments abroad and want to know how best to manage them. Our specialist cross-border advisers, who are regulated by the SEC, can guide you through your options and ensure that your return to America is as seamless as possible.
Services for returning Americans
UK Pension Transfer
As a returning US resident who has worked in the United Kingdom, you may wish to transfer your UK pension provisions to a more bespoke solution. There are concerns that your UK pension is likely to remain unmanaged due to regulatory red tape and that the entirety of your UK holdings will be in Sterling (GBP). Naturally, this will create additional currency risk as you look to drawdown your retirement funds.
By transferring your UK pension, you could get access to ongoing professional management, as well as hold your underlying investments in US Dollar (USD), making the drawdown process far simpler.
Working and living in Europe may have resulted in the creation of various overseas investment accounts. As a US citizen, it is essential that these accounts remain compliant at all times in order to avoid significant future taxation concerns.
At Harrison Brook, we specialise in tax-efficient and compliant investment accounts that are tailored towards US expats returning from abroad.
Products for returning Americans
Whilst an International SIPP still guarantees that your pension remains within the UK jurisdiction, it is a product specifically designed for people who have moved abroad and have no plans of returning.
As such, it allows for funds to be held in all major currencies, as well as full flexi-access drawdown regardless of your location.
By consolidating your UK pensions into an International SIPP, you can benefit from professional and regulated ongoing management from our cross-border regulated advisers.
American Investment Platform
Once you have decided on an investment strategy, you will then have to decide upon your choice of platform.
A platform is where you hold your investments, and where you will have visibility. Typically, you would receive an online login to your account, showing performance data, transaction history, charges and anything else that could be relevant to your holdings.
When considering the right platform, there are several factors at play – the most important being its reporting and compliance functions. After this, you may be concerned about the cost of the platform, the range of funds or perhaps the ease of use.
Working with a professional and SEC regulated adviser here at Harrison Brook can help you identify the best solution and investment platform to suit your need.