How to open an IRA from overseas, for expats
March 24, 2013 12:25 AM   Subscribe

I am an expat and currently overseas (Dubai), and I want to open an IRA, how do I go about doing that? Is it even possible or do I have to actually be present there?

My previous employer cancelled the pension plan I had with them and I have some money that I want to move to an IRA, I could cash it but I will be left with 40% of it after taxes and penalties.
posted by convex to Work & Money (5 answers total) 1 user marked this as a favorite
You can totally do this online. Any of the major brokerages will set you up.
posted by valkyryn at 12:34 AM on March 24, 2013 because index funds are the cheapest way to invest.
posted by bananafish at 7:13 AM on March 24, 2013

I set an IRA up through ING (now Captial One 360) entirely online.
posted by two lights above the sea at 8:25 AM on March 24, 2013

It is much easier to do this if you have a US address. Use a relative's if you must.
posted by crazycanuck at 10:50 AM on March 24, 2013

Response by poster: Thanks everyone, I will check out Capital One 360, and Vanguard. For my case (moving the pension savings to an IRA) am I doing the right thing? Sorry I don't want to start another question, but just making sure I am on the right path.
posted by convex at 10:55 PM on March 24, 2013

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