Jingthing

Boycott the USA. There seems to be no other way.

You do know a lot about U.S. taxation. I get the gist of what you're saying but this grand "scam" trad IRA loophole that you were posting about years ago was BEFORE 2024. Before pretty much anyone was filing Thai tax returns and reporting and paying tax on trad IRA remittances. Now people will be.

Same same not so different.

Thank you. I assumed that it was only about the portion that was remitted but I was seeking confirmation of that. I'm reading your post as agreeing with me that both types of IRAs are private pensions according to Thai tax law and Thailand has exclusive right to taxation of those for Thai tax residents but of the remitted portion only. On the part about the savings clause impacting IRAs (private pensions) I am extremely skeptical. What is your source for that? I've heard nothing of the kind that the savings clause has anything to do with IRAs. These are the kind of issues that can be explored on the new topic I will open and I will also be seeking more clarification from the mainstream sources I have been following so far.

But you haven't been filing in Thailand during those years, have you? Pretty much nobody has been filing based on remitances before this year. This year, things are changing. I am talking about going forward in the new environment here. As I understand, both types of IRAs are to be taxed by Thailand ONLY for Thai tax resident as per the DTA treaty for private pensions. You need to take action to communicate with IRS that you are under the tax treaty of course (though obviously not important for Roths). Believe it or not. I will be posting a new topic about related issues as I have questions about this as well. I know it sounds crazy that both types of IRAs by Thailand.

Neither type is taxable in the US for Thai tax residents. What I don't know if that covers only the remitted part or all of it even if not remitted. I'm looking into that.

Other than seeking profits like any business, I have not seen any evidence that expat tax thailand is what you describe. On the contrary, I think they are trying to communicate accurate and helpful information. Some of that information points to some people needing to get a TIN and to file, and some of it points to no need to get a TIN and no need to file. Depending on the specifics of your case. There is no one size fits all with this stuff. Another example while they sell a get a TIN service they very openly explain that you can usually do that yourself. Keeping this objective, I think their service prices after the free short session teaser are high, so that's an incentive for people to try to do things themselves, and I also think it opens a space for a "discount" expat tax services (which I have yet to notice yet). Offering such specialized services in English which claims to be able to navigate both Thai and foreign tax systems is actually a type of thing that has pricing power. For example in my case assuming I will eventually need to file in Thailand. I expect the service fee if I get help to be higher than the tax owed. That sucks but taxes in general suck, so what are you gonna do? Some people say leave Thailand. For most people, that's extreme.

Nope. On social security income there is strong consensus that it is not accassable in Thailand. If you happen upon a provincial TRD clerk saying it is, you can know they are wrong. On IRAs and 401ks with Thai tax advisors that back up their assertions with evidence of discussions with credible TRD staff, I have found a consensus. Withdrawals from such retirement accounts are viewed as private pensions in Thailand if remitted. If you're a tax resident of Thailand such remittances are accessable in Thailand. As a Thai tax resident, only Thailand has a right to tax those, not the U.S. For one example, you withdraw 10K USD from a Roth IRA (already not taxed in the US). That 10K if remitted while a tax resident of Thailand is fully accessable. There is no relevance to the balance of that IRA account before 2024. There is no relevance if that 10K came from selling one stock in the IRA with basis of 8k with a 2k profit. It's about the FULL 10K. There actually is a consensus on that as far as Thai taxation advisors. Yes there is at least one forum member voice here saying differently, but so far no reports of any Thai tax advisors countering the consensus position I have described. I would welcome that consensus to be credibly challenged with backup from TRD but unless and until that happens, I think the most sensible position for the typical retired American expat is to take the consensus view as the one to act upon.

Unspoken A little film with a big emotional impact and well-crafted plot surprises. www.forward.com/culture/film-tv/625687/jeremy-borison-unspoken-film-review-jewish-orthodox/

Big suprise! Ted Lasso in which the finale to Season 3 looked to everyone as the end of that wonderful series will be coming back for a Season 4. Schedule unknown but there will be a new team.

This is a can of worm topic which I'd rather not get into. However, I like to think in terms of a typical Thai person instead of average. I do think I'm more knowledgeable than a typical Thai person in a general way, but a typical Thai person is much more knowledgeable than me about Thai specific stuff.

Again, not savings. Pensions. We're on different planets on this. I'm going with the at least current MAINSTREAM interpretation. Your theory though you back it up, in my curent understanding, lacks mainstream Thai tax advisor agreement. Again happy to be corrected. I will be starting a dedicated thread about U.S. private pensions (IRAs and 401ks) based on a PCEC video but it won't be about your theory. It will be about further questions about the mainstream reading which I have been merely repeating. You know, you may indeed be "right" but if TRD doesn't think you are, what difference does it make?

Yet other than your opinion about Por 162, I doubt you will be able to cite one Thai tax advisor that supports your reading of that. But I would be happy to be proven wrong about that. People should realize the mainstream reading at this time is that disbursements from IRAs Roth and Trad, and 401Ks are fully accessable if remitted (but under the DTA not subject to U.S. tax). Nothing about reading them as pre 2024 "savings" and nothing about considering the underlying investments WITHIN them as if they were regular investments outside of retirement account/pensions.

My reading reflects a consensus of tax advisor advice confirmed by TRD. .

They are. Remittances taxable only by Thailand.

IRAs are pensions according to TRD. I've documented this before.

Pensions aren't savings.

Private pensions are covered by the USA-Thailand DTA. Accessable in Thailand. Not taxable in the US (you need to to take action to make that happen in the U.S.).

I'm not confused about those things but perhaps you misread what I posted. Yes, disbursements from private pensions remitted to Thailand are full accessable in Thailand. The balance of such accounts (IRAs, 401ks) before 24 completely irrelevant. Thailand classifies those as private pensions. In the US we would call them retirement accounts. Do what you want. No skin of my arse.

I've heard from multiple tax advisor sources. It's more than an opinion. Also backed up by an interview with a senior TRD official. Just because you want those to be seen as savings by Thailand, doesn't mean they are. Of course you are free to just never report such disbursements, but then you may have some big fun if audited. Again balances pre 24 in US retirement accounts are NOT SAVINGS. The savings loophole is about cash money in bank accounts. I don't like this any more than you do, but I prefer to accept reality.

It seems so. 401K withdrawals are accessable (taxable) income if remitted to Thailand. It's irrelevant what your balance was before 24. Under the DTA, IRAs trad AND Roth and 401Ks are seen as private pensions in Thailand. NOT SAVINGS and NOT REGULAR INVESTEMENTS (where tax basis profits are relevant). Not taxable in the US but taxable in Thailand under the DTA which is interesting as 401ks and trad IRAs withdrawals are taxed in the US normally. Source: Expat Tax Thailand

Bangkok is definitely a better food city OVERALL than New Orleans except for regional Lousiana cuisine of course.

Bernie isn't a democrat.

Once a criminally corrupt grifter, always a criminally corrupt grifter.

I guess all those millions of 150 year olds that Trump and Musk keep lying about are going to need to go digital. What could possibly go wrong?