Whether you are returning to the UK, moving to Europe, or relocating anywhere else in the world, leaving the United States creates important financial decisions that cannot be left to chance.
Your 401(k), IRA, brokerage accounts, and other US-based assets do not simply travel with you. They sit in the US, subject to US tax rules, while you live abroad under a different tax regime.
Managing this cross-border situation requires advisers who understand both sides — which is exactly what we do.
We work with British nationals returning home, American expats relocating abroad, and internationally mobile professionals wherever their next destination takes them.
The most expensive mistakes happen when people deal with their US finances after they've moved. Once you have a foreign address, US custodians may freeze or restrict your accounts and leave you no time to plan. The time to act is before you leave.
You cannot move a 401(k) to a foreign pension scheme. Your options are to leave funds in the US plan, roll into an IRA, or withdraw (subject to penalty and tax). The right approach depends on your new country of residence and your tax situation in both jurisdictions.
This is one of the most complex situations we advise on. US citizens are taxed on worldwide income regardless of residence, while also being subject to UK tax as a UK resident. We help clients in this position structure their assets tax-efficiently across both systems.
Many US custodians restrict or close accounts for non-US residents. That's their compliance policy, not a legal ban. Working with an adviser set up to manage accounts for non-US residents avoids the problem.
