Mastering U.S. Tax Reporting of Foreign Retirement Account Ownership and Distributions

Case Study on Calculating Current Tax, Identifying Recognition Traps From Phantom Income, Detailing Informational Reporting

A live 110-minute CPE webinar with interactive Q&A

Thursday, July 6, 2017 (in 10 days)
1:00pm-2:50pm EDT, 10:00am-11:50am PDT

This webinar will provide tax advisers with a comprehensive guide to understanding the reporting requirements of U.S. taxpayers owning or receiving payments from foreign/non-U.S. retirement accounts, including pensions, annuities and social security equivalents. The panel will discuss how to calculate current tax on both ownership and distributions, outline potential recognition traps from so-called “phantom income,” and detail the informational reporting requirements. The event will contain illustrations in the form of a case study showing reporting from hypothetical foreign-based pensions and social security-type accounts.


One of the more complicated and often misunderstood tax scenarios for taxpayers and practitioners alike occurs when a U.S. taxpayer owns an interest in a foreign pension plan or non-U.S. social security-type of account.

U.S. citizens who live and/or work for significant periods of time in foreign countries, as well as non-citizens who relocate to the U.S., often have an ownership in some type of foreign retirement account. Ownership of these assets creates unforeseen tax and reporting obligations.

A first point to consider in evaluating the taxability of ownership of foreign retirement accounts is that most overseas plans will not be considered “qualified plans” under IRC 401, which means the accounts generally do not qualify for tax-deferral treatment.

Taxpayers required to file a U.S. tax return will have to treat employer contributions to the foreign retirement accounts as taxable compensation, and any increase in the account’s value will be considered taxable in the year the growth occurs.

Another concern is the reporting obligation that ownership of foreign retirement account assets creates. Taxpayers with foreign retirement account interests often must file informational reports, such as FinCen Form 114, Report of Foreign Bank and Financial Accounts (FBAR), FATCA reporting, and IRS Form 3520.

Listen as our experienced panel provides a comprehensive guide to the tax and reporting requirements of ownership of foreign retirement accounts.


  1. Classifications of foreign pensions, annuities and social security
  2. Differentiation between most foreign plans and U.S. “qualified plans”
  3. Income calculations—distributions and ownership
  4. Informational reporting
  5. Case study and illustrations (Canada, UK, Australia social security)


The panel will discuss these and other critical topics:

  • What are the reporting requirements for taxpayers owning foreign retirement accounts?
  • What are the tax consequences for U.S. citizens when employers make contributions to foreign retirement accounts?
  • What is the tax impact of distributions from foreign retirement accounts for non-U.S. citizens who reside in the U.S.?

Learning Objectives

After completing this course, you will be able to:

  • Identify the current-year tax and reporting impact of ownership of foreign retirement account assets
  • Distinguish tax impact on U.S. citizens who have spent time abroad and for non-U.S. citizens subject to U.S. taxing jurisdiction
  • Discern components of retirement account contributions that must be treated as currently taxable as compensation
  • Identify foreign retirement accounts that require informational reporting on FBAR, FATCA and Form 3520 filings


Alison N. Dougherty, J.D., LL.M., Director
Aronson, Rockville, Md.

Ms. Dougherty has extensive experience assisting clients with U.S. tax reporting and compliance for offshore assets and foreign accounts. She specializes in international tax compliance, planning and structuring as a subject matter leader of her firm's international tax practice. Her responsibilities include U.S. Federal and multi-state tax compliance for C corporations, S corporations, partnerships and individuals. She also provides transactional tax planning and structuring services.

James P. Klein, Senior Counsel
Pillsbury Winthrop Shaw Pittman, New York

Mr. Klein focuses his practice in the areas of executive compensation and benefits, and tax. He has broad experience servicing clients in the areas of employee benefits, retirement plans, insurance and in the international taxation of compensation and benefits, from the employee and employer perspective. He represents companies on U.S. and non-U.S. tax and labor issues and works with corporations in ensuring that their employee benefit plans comply with ERISA.

Patricia Weisgerber, Esq., LL.M.
M. Robinson & Co., Boston

Ms. Weisgerber's practice areas include federal, state and international tax law. Her experience in international tax law includes tax treaty review, international tax compliance under the Offshore Voluntary Disclosure Program, preparation of international tax returns and international tax consultation. She is currently a member of the Boston Bar Association’s International Law Committee and serves as Chairperson for the Philanthropy Committee of the Boston Trusts and Estates Consortium.

Registration per Person for Live Event

Additional lines for this conference can be purchased at 25% off. For orders of five or more lines, further discounts will apply and will be automatically reflected in the cart.

Live Webinar $147.00

Live Webinar & CPE Processing $182.00

CPE per Person on Live Event

Continuing Professional Education credit processing is available for an additional fee. CPE processing must be ordered prior to the event. To qualify for CPE you may not listen via the telephone.

This program is eligible for 2.0 CPE credits.

  • Field of Study: Taxes.
  • Level of Knowledge: Intermediate.
  • Advance Preparation: None.
  • Teaching Method: Seminar/Lecture.
  • Delivery Method: Group-Internet (via computer).
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of verification codes announced throughout the presentation.
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules for U.S. taxpayers owning or receiving payments from non-US retirement accounts; supervisory authority over other preparers/accountants. Specific knowledge and understanding of basic reporting requirements for U.S. taxpayers with foreign retirement account interests; familiarity with FBAR, FATCA and For 3520 filings

NOTE: CPE credit processing for all attendees must be ordered by 2pm Eastern the day of the program to receive a Certificate of Attendance within 24 hours.


Recorded Event

Includes full event recording plus handouts (available after live webinar).

Note: Self-study CPE and EA credits are not offered on recorded events.

Recorded Webinar Download $147.00
Available 48 hours after the live event

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Recorded Audio Download (MP3) $147.00
Available 24 hours after the live event

How does this work?

DVD (Slide Presentation with Audio) $147.00 plus $9.45 S&H
Available ten business days after the live event

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Registration Plus Recorded Event

Best value!

Live Webinar & Webinar Download $194.00

Recorded Webinar Download Only $47.00 with Registration/Webinar Combo

Live Webinar & Audio Download $194.00

Recorded Audio Download (MP3) Only $47.00 with Registration/MP3 Combo

Live Webinar & DVD $194.00 plus $9.45 S&H

DVD (Slide Presentation with Audio) Only $47.00 with Registration/DVD Combo


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EA Credit

Strafford is an IRS approved continuing education provider and this course is approved for 2 enrolled agent (EA) credit hours.

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Customer Reviews

Excellent seminar! It was efficient and the important topics were covered at just the right pace; no time was wasted covering information that the participants already knew.

Rhonda G. Williams, CPA

Barraclough & Associates

I liked the fact that there was more than one person presenting the material. It's nice to hear multiple perspectives.

Matt Bristow

Cover & Rossiter

The conference was technical, informative and presented at a good pace.

Krystal Ching


I purchased the conference a few minutes after it began and the customer service rep was very helpful and got me signed up and logged into the conference very quickly.

Joanna Johnston

Savas Greene & Company

I appreciated the flow of the information offered and the ease at which I could follow the handouts.

Larry Bruck

WISS & Company

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