PRSA to US IRA

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xerxes

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[FONT=&quot]My wife and I are U.S. citizens moving from the US to Ireland for a couple years, possibly much longer. We currently invest in US retirement programs like 401K and IRAs and we would like to continue to invest in retirement while we are in Ireland through a PRSA. My concern is that once we move back to the US I would like to move our retirement savings from Ireland into a US system like IRAs. Is this possible?
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Not at present (nor in the foreseeable future, neither).

Bear in mind that Ireland and the EU states cannot agree on portable pension instruments. Forget forging an agreement with the US what with the loss of postponed or advantageous tax treatment.
 
Would there be any problems with investing in PRSA and then collecting while living in the US at retirement? I understand the laws may change by the time I retire, but are there any problems currently with this? I would love to invest and also avoid a lot of taxation at the 42% level.
 
The tax treatment of disbursements from a PRSA to a US national would in all likelihood push the recipient(s) into a ruinous tax bracket. Annual contributions to IRAs have step-ups and over 50s are treated even more generously. Perhaps holding the PRSA until retirement (whatever that term means today) and repatriating the funds as an annual IRA contribution would suit? Alternatively one could fund a credit card with the PRSA proceeds and use that for daily expenses anywhere.
 
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