Non residents - risk of no ARF option

[BingCrosby]

I've an Irish DC pension, but no longer live in Ireland (USA). I believe the below may apply to anyone non-resident when it comes time to purchase ARF.

I've recently learned from a PWC article (cannot link it here - search "PWC ARF non resident") that the revenue has suggested onerous ARF reporting requirements for non-residents.

The net might be that non residents may have no ARF option at retirement. I'm not certain and I'm not a tax expert.

Has anyone else looked into this? I can see so many problems with this scenario that it seems untenable in the long term (friction for international mobile employees, problems for retirees who move abroad after getting their ARF etc.).

Thoughts or insights very welcome.

It looks like this is the situation for some time (since 2020) so if there is a link to a previous thread, apologies, please share.

B

 

[ClubMan]

I've recently learned from a PWC article (cannot link it here - search "PWC ARF non resident") that the revenue has suggested onerous ARF reporting requirements for non-residents.

This?

Changes to Approved Retirement Funds (ARFs) for non-Irish residents

The Pensions Manual dealing with the taxation of ARFs for non-Irish residents has been updated. This article reviews pension planning considerations for globally mobile employees.

www.pwc.ie

 

[BingCrosby]

Yes - thanks (wouldn't let me add the link to my original post for some reason).

 

[Gordon Gekko]

You may also find it tricky to source an ARF provider who’ll deal with you.

 

[ClubMan]

Yes - thanks (wouldn't let me add the link to my original post for some reason).

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[BingCrosby]

@Gordon Gekko - Yes that seems the most likely situation - non-Irish resident folks stuck with non-existent or very expensive ARF's. Has anyone found themselves in this situation ? Its quite possible people are using an Irish address to purchase ARF's while living in the US and taking their chances - I am not recommending that so I'm trying to see if there is any wisdom/experience on this already.