Retiring Between Korea and America: A Tax Guide to Social Security, Korean National Pension, 401(k)s, Moving Back

You worked in both countries. Now you have to retire in one of them.Korean-Americans reaching retirement face questions no general retirement book answers. Can you collect U.S. Social Security in Seoul? Does the IRS tax your Korean National Pension? What happens to your 401(k) if you move back to Korea, and does the Korea-U.S. tax treaty protect it? If you give up your green card, will you owe the exit tax? Will Medicare cover you in Korea, and how do you get back into Korean National Health Insurance?Written by a Los Angeles CPA who has advised Korean-American families for over 25 years, this plain-English guide walks through the three roads most families are choosing between: staying in America, living in Korea while keeping the green card, and moving home for good. It covers: - Qualifying for and claiming U.S. Social Security, including the totalization agreement that lets Korean work years count- Receiving the Korean National Pension while living in America, the lump-sum refund, and Article 24 of the treaty- 401(k), IRA, and Roth withdrawals, required minimum distributions, and the treaty rule for pensions paid to Korean residents- Medicare, Part B penalties, and re-enrolling in Korean National Health Insurance- Keeping the green card from abroad, the reentry permit, and the eight-year long-term resident rule- Form I-407, Form 8854, and who is a covered expatriate- Korean taxes when you become a Korean resident again: worldwide income, financial income, and the foreign account report- Estate planning across the Pacific: U.S. estate tax, Korean inheritance tax, and beneficiary designations- A year-by-year comparison of the three retirement plans, with checklistsThird in the Korean-American Money and Tax Guides series, after Receiving an Inheritance from Korea and U.S. Taxes for Korean Nationals in America.