Tax on foreign retirement account I plan to open an individual retirement account in my home country due to its attractive low tax on earnings upon distribution. I'll fund this account with my "after-tax" earned income from the US. Questions: Is this something that I need to report to IRS on my annual tax file? Do I need to pay income tax to IRS as I withdraw money (either contributions or earnings) from this new IRA? (There is no tax treaty between the US and my country as of today) Thank you. |