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I am not a US citizen, and I am currently not resident in the US. I lived and worked in the US between 2014 and 2016 and I have a 401(k) from that time. The 401(k) plan is being terminated and I am being asked to complete a distribution form.

Is it possible to open a rollover IRA as a non-resident alien of the US (and transfer the funds to this account)? Or am I now forced to withdraw to a cash account (with the income tax withholding and early withdrawal penalty)?

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  • The financial institution that managed the 401(k) plan would be my first stop to make it a rollover IRA.
    – Jon Custer
    Commented Apr 5, 2023 at 17:10

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There's nothing in the law to prohibit you from opening an IRA as a non-resident or from rolling over from another qualified plan.

However, many custodians do not allow non-residents to have accounts with them as a general rule. So you'll need to shop around for an IRA custodian who'd allow you to have an account with them.

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  • Thanks @littleadv. Are you aware of any specific such custodians? I've tried a few and have not yet found one that caters to non-resident aliens.
    – Tom
    Commented Apr 10, 2023 at 23:54

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