bzorc Posted April 20, 2018 Share Posted April 20, 2018 I have received an unusual question from an attorney related to a Defined Benefit Plan for a Self-employed individual: Does the sole-proprietor who establishes the plan have to reside and work in the United States? Not sure of the specifics behind this, but I would think you'd have to reside here, and the source of your self-employment income would have to be from business conducted in the US. Thanks for any replies. Link to comment Share on other sites More sharing options...
Calavera Posted April 20, 2018 Share Posted April 20, 2018 Not sure, but I think it depends on where he will file his taxes for this income. Link to comment Share on other sites More sharing options...
Larry Starr Posted April 23, 2018 Share Posted April 23, 2018 Clearly, a plan can be established in the US that EXCLUDES non-resident aliens. That means, it could also INCLUDE non-resident aliens (workers who ARE NOT citizens but live in foreign country). That all leads to the inescapable conclusion that if the plan is adopted in the US for a US citizen sole prop, it can INCLUDE non-resident CITIZENS (it actually HAS TO, since you can only exclude non-resident ALIENS). Remember; the assets must be invested such that they are subject to US courts. Also note that US Citizens must pay US taxes on income earned anywhere in the world. Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFCPresidentQualified Plan Consultants, Inc.46 Daggett DriveWest Springfield, MA 01089413-736-2066larrystarr@qpc-inc.com Link to comment Share on other sites More sharing options...
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