Your options
Four ways forward, and none of them is automatic.
Before comparing options, get clear on what you have.
If you have lost track of an old 401(k), begin by identifying the current plan administrator and confirming the account details. If you know where it is, check your access and gather current information before comparing the available choices.
or work through the online 401(k) Abroad Checklist.
Keep your existing plan
Often worth considering when the plan allows you to stay, you can access it from your country and its costs and investments still suit you.
Check first
- Whether this plan lets you retain the account while resident abroad
- What you personally pay now that you have left the employer
- How you will log in, receive documents and get support from overseas
Roll over to an eligible IRA
May be worth comparing when you want different services or investment choices and a receiving provider has confirmed it can serve your residence.
Check first
- The full cost of the receiving account and any advice service
- Features of the old plan that would not carry over
- Whether a direct rollover is used and what tax questions remain
Move to another employer plan
Possible where you have access to another eligible employer plan that accepts rollovers. Availability varies.
Check first
- Whether the new plan accepts incoming rollovers
- Its costs and investment menu compared with the current plan
Take a withdrawal
A withdrawal is a taxable event for many people and may involve withholding and possible additional early-distribution tax. It is not tax-neutral.
Check first
- U.S. income tax, withholding and any early-distribution tax
- How your country of residence treats the payment
- Whether money is needed now or another option fits better
Comparing in detail
For a side-by-side comparison of an existing plan and a proposed IRA, read Should You Roll Over Your 401(k) If You're Living Overseas?, then work through the 401(k) Abroad Checklist.
Want a professional perspective on your choices?
Share your situation and we can explore whether an independent advisor may be able to help.