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Statue of Benjamin Carrion in the plaza of Santa Veracruz in Mexico City - Legal Basis for a 402(b)

The legal basis for a 402(b)

A Nonqualified overseas retirement plan has characteristics that are opposite of what we have all been used to. This specific 402(b), the Regulated Asset Protection Structure (RAPS), allows for pre-tax contributions. There are no maximum contribution limits as this is a nonqualified deferred compensation tax law issue. The fact that this is precisely the opposite […]

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Chess board in park, Kiev - Privacy of Pensions

The Privacy of Pensions

Many countries have laws imposing secrecy on information about retirement plans and this is in essence why FATCA allows for the ‘limited conditional’ category. By their very nature, retirement plans are viewed and governed differently. There are sanctions on dealing with retirement plan information which only a Regulator can decide on. There are so many […]

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Ilia Chavchavadze and Ivane Machabeli, 1873 - Offshore Financial Fortress

Offshore Financial Fortress

So it would appear that the Western world comprises two capital blocs with virtual locks. The entity that holds the key to both locks is a tax recognized retirement plan for EU and US purposes. In both the EU and the US retirement plans are generally exempted from securities laws on offer of securities. The […]

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Chess players in park, Kiev - FATCA

FATCA Compliance

When analyzing an investment account, the provisions of FATCA require the account to be classified into one of the following three categories: ‘Approved’ as of 1 July 2014 ‘Limited conditional’ until the end of 2015. These administrators are deemed to be FATCA compliant and may register first and verify their status later. The enormous quantity […]

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