Welcome back to Abroad in America with host Jimmy Miller.
If you’ve worked, saved, and invested in the United States, what happens when your time in America comes to an end? Should you move everything back to your home country, or can some of your money stay invested in the US?
In this episode, Jimmy walks through one of the biggest financial questions expats face when leaving America: what to do with US-based accounts like 401(k)s, Roth IRAs, brokerage accounts, bank accounts, company stock, and other investments.
While many expats assume they need to take everything home immediately, that is not always the best move. The US financial system can offer low costs, strong regulation, deep markets, and global investment access, but keeping money in America requires the right structure, custodian, tax planning, and long-term strategy.
Jimmy discusses why leaving money in the US may make sense, when cashing out can create unnecessary taxes or penalties, and why planning before you leave is so important. He also covers the importance of expat-friendly custodians, W-8BEN forms, tax treaties, currency strategy, beneficiary designations, and potential US estate tax exposure for non-US citizens.
He also explains why currency planning matters when your future expenses may be in euros, pounds, francs, rupees, rand, pesos, or another currency. For more on this topic, watch our related video: How to Move Money Abroad Without Losing It to Fees (What Expats Need to Know).
This episode also includes a warning about expensive offshore investment products often marketed to expats and explains why a simpler, lower-cost, fiduciary-led strategy may be the better path.
In this episode, you’ll learn:
- What to consider before moving US-based money back home
- Why cashing out a 401(k) early can create taxes and penalties
- How custodians may treat accounts after you leave the US
- Why Roth IRAs, traditional IRAs, and brokerage accounts need careful planning
- What a W-8BEN form is and why it may matter
- How tax treaties can affect your investment income
- Why non-US citizens need to understand US estate tax rules
- How to think about currency risk when your future expenses are outside the US
- Why expats should be cautious with offshore investment products
- How an expat-specific fiduciary advisor can help coordinate the moving pieces
Leaving America does not mean your money has to leave America too. The key is making sure whatever stays in the US stays there intentionally, with the right plan, the right accounts, and the right guidance.
As always, speak with a qualified cross-border tax professional and fiduciary advisor before making major financial decisions.