I am a Japanese national who used to work in the
US for years but no US permanent residency.
Currently I live in Europe, no residency in Japan, and considering moving back to Japan.
If I withdraw from my employee 401k account in the
U.S. and transfer entire balance to Japan after I move there, will I be taxed a capital gain tax @ 30% or as an income tax in the US? Will I be exempted from paying Tax in Japan? OR, will have to pay tax (what kind/rate?) in Japan and exempted from paying tax in the US?
What if I withdraw while in Europe and pay tax according to the tax treaty then move the fund to Japan? Will I be taxed in Japan?
Is there an optimum way to withdraw instead of all at once for the tax purposes? I would like to re-invest in Japan…
Any links that explain this?
I am 60 so there won’t be any early withdrawal penalty.
Thank you!
by Dezinbo
