Investment Account closure

Last activity 05 October 2023 by Pandorak

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SteveRPaNew member26 September 2023 06:48:10

Hello

I am an American expat living in Malta

I have just been informed that I have to close my US investment account because I live in Malta. I am concerned that the same might happen to my IRA and 401k accounts

Has anyone else experienced this? If so what action did you take? Any recommendations would be appreciated

Thanks

CherylModerator26 September 2023 09:41:39

12306

Hello SteveRPa,

Welcome to Expat.com

Thank you for bringing your questions to this forum.

I hope you will find someone who can provide you with the assistance you need.

All the best,

Cheryl

Expat.com team

PandorakMember03 October 2023 19:14:35

I have not heard about this before. Please can you clarify who told you this has to be done. Is it a requirement by the Maltese that applies to Americans, or that applies to American assets owned by anyone.

SteveRPaNew member04 October 2023 08:11:47

This happened to an Account I had with Fidelity. Malta was not on their list of countries they support. I recently had to update my contract details with them, maybe that's what caught their attention.

PandorakMember05 October 2023 15:54:58

I doubt if that would apply to your 401K and IRA accounts, since they are pension accounts. Information on this link might help. It looks like fidelity does not support discretionary investment accounts for people living abroad.https://www.fidelity.com/accounts/services/investors_outside_US_faq.shtml

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