Ask The Experts: Money Matters

By Mike Miles

TSP, IRA and taxes

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Q. I know I can move my money in the Thrift Savings Plan to an IRA (I’m retired) and pay no taxes doing so. But can I move my TSP to an IRA outside of the U.S. and still not pay any taxes during the transfer?

A. An IRA as established by the U.S. tax code outside the U.S.? I’m not sure how that is even possible.

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Comments

  1. Sarah Says:
    October 2nd, 2012 at 7:25 am

    Puerto Rico, even tho a US territory, does not follow the US tax code, but does have IRAs.