Expat Living Abroad - Retirement contributions


L

livingabroad

We've recently moved to Switzerland for my spouse's job. It
now appears that our retirement contribution options are
EXTREMELY limited. Since we're in the Swiss office, we're
unable to contribute to the company 401K and we're American
and living here temporarily so we're unable to contribute to
the Swiss pension. Are we missing something or is it true
that our only tax deferal option is the $3000 contribution
allowed?
 
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P

Phil Marti

livingabroad said:
We've recently moved to Switzerland for my spouse's job. It
now appears that our retirement contribution options are
EXTREMELY limited. Since we're in the Swiss office, we're
unable to contribute to the company 401K and we're American
and living here temporarily so we're unable to contribute to
the Swiss pension. Are we missing something or is it true
that our only tax deferal option is the $3000 contribution
allowed?
You may not be able to do even that.

To make an IRA contribution you must have taxable
compensation. If all your earnings are excluded through the
foreign earned income exclusion you have nothing on which to
base an IRA contribution.

Phil Marti
Topeka, KS
 

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