I lived in the US for about 7 years, and started saving money in the company's 401K plan. I had a green card, but decided to move to my home country years before it expired. I have a US SSN.
Now the company is closing the 401K plan, and all accounts must be rolled over or cashed out. I want to do a direct roll-over to an IRA, but I cannot find any banking institution that will allow me to open an account when I am not a citizen, nor reside in the US.
Is there a bank that is open for foreigners?
If not, I will have to cash out my 401K. Who do I contact to find out if my country has some sort of deal with the US in regards to taxes? I would of course prefer to not pay the penalty (20 % federal + 10 % state tax), and instead reinvest the money in a retirement fund in my country.