I retired two years ago and moved to Japan to support my Japanese wife while she provides care to her elderly mother. I entered on a table 2 visa (spouse visa).
Eventually I will likely return to the US but it may be after 5 year residency.
I’ve both worked hard and have been fortunate in life and have significant assets in the US in 401k, Roth, Trad IRA, bank account (cash), and rental property and primary residence.
My question is regarding the exit tax basis. Ive read all I can here on Reddit and Reddit Wiki etc. As of three years ago ( while the law was still newish) there remained ambiguity regarding the 401k and Roth accounts and if their values would be subject to the exit tax. At that time there
Was no definitive clarification from NTA and insufficient legal challenges to establish precedent.
Im a few years out but want to make necessary preparations to limit the exit tax liability.
Has anyone delt with this recently and can you comment on the NTA position?
by mazenblue