F I N A N C I A L P L A N N I N GU S / U K

F A T C AThe Foreign Account Tax Compliance Act became law in 2010. The legislation covers reporting by US taxpayers of certain foreign financial accounts and offshore assets. It also relates to reporting by financial institutions on financial accounts held by US taxpayers. The reason it was brought in by the US Government was to try and recoup some of the billions of dollars it misses each year in unpaid taxes on assets outside of the US that American taxpayers have hidden or not reported.

Because of FATCA, it is essential

that certain assets held outside

of America by US tax payers

are structured in a compliant

way so that they do not attract

additional taxes or penalties.

Financial Advice in the USA delivered by Jason Walker - Financial Advisor with Raymond James & Associates

I N T R O D U C T I O N

Whether you are in the process, have just moved to the USA or have lived here for a number of years we can assist you on US financial planning. We help British expats residing in the USA with US domestic investment and retirement plans. We advise on how to maximise investment and pension allowances while living in the USA and ensure we employ a consistent investment strategy with your UK assets by working alongside a UK financial advisor.

Expatriate clients typically have additional layers of complexity. You could be in the USA for a short while, a few years or forever and this can change at any point. Retirement could mean retirement in one country or spending time in both. All this means extra flexibility and planning. We ensure we ask the right questions so any plan and investments meet your unique scenario.

“Two nations divided by a common language.” This quote has never been truer especially when it comes to financial terminology.

We help sift through the financial jargon and different terminology used in the USA to help make sure you understand your options for investment and retirement.

O U R S E R V I C E S

R E T I R E M E N T P L A N N I N GMany British expatriates have the option to invest into a US Qualified Retirement Plan. There are many different types of plans and these can be confusing. We help guide you to ensure you understand your options, maximise your allowances and invest in the appropriate strategy. The most common plans include, profit sharing plans, SIMPLE IRAs, SEPs, safe harbour 401(k)s, Owner-only 401(k)s and defined benefit plans.

Individuals can also invest into individual retirement accounts. These are known as traditional IRAs and Roth IRAs. However annual joint income levels are an important factor in determining whether you can invest in these plans and/or benefit from the tax advantages. We will guide you through this process.

For UK pension plans we will work alongside a UK financial planner to help make sure our strategies are aligned and to ensure you are invested in the appropriate currency for retirement.

L I F E A N D H E A L T H I N S U R A N C EMany clients get life cover and other employee benefits such as health care through work. We can help explain how these benefits work, assist in selecting a suitable option for you and your family and take out additional coverage if required.

O N G O I N G S E R V I C E

If you move back to the UK or get relocated to another country we can continue to manage your US assets according to the agreed strategy and ensure you remain tax efficient. We will invest in US funds that qualify for UK reporting status to ensure you maximise your capital gain allowances in the UK. During this time we will continue to provide excellent service and communication with you and your other global advisors.

I N V E S T M E N T P L A N N I N G

Longer term many British expats need to navigate and pay for a US college education for their children. We help go through the current and risings costs of college education and how to plan by saving now in tax efficient college savings plans including 529s and Coverdell Education Savings Accounts. With many new college savings alternatives available we can help select one that is suitable for your situation. This is especially important as dependent on where you live states can differ in the tax treatment of these plans.

O T H E R P R O F E S S I O N A L C O N T A C T S

We can work alongside an existing tax accountant/CPA or refer you to a cross border specialist if required. By working closely with the tax advisor we help ensure information is collated in a correct and timely fashion to enable the tax advisor to accurately complete your annual tax return. Where appropriate we also refer to legal specialists.

UK ASSETS - Many British and American expats will be holding GBP denominated investments outside of the US and if deemed non-compliant the tax penalties can be significant. An example of such an investment commonly held by British expats is a collective investment within an ISA. They might be a good choice if you are a non-US tax filing UK resident however for a US connected individual they can be very tax inefficient. We can help you understand the tax implications of an existing investment and then bring in UK financial planners to provide a tax compliant Great British Pound (GBP) or US Dollar denominated solution to enable you to manage currency risk and invest your funds in a tax compliant structure.

US ASSETS - As a full service broker and registered investment advisor we are able to advise and implement investment strategies tailored to your requirements. This could include direct equities, ETFs, mutual funds, individual corporate and municipality bonds and annuities. We work alongside you to invest in the approach that meets your requirements, preferences, appetite for risk and risk tolerance levels. Many US companies offer employee stock purchase plans (ESPPs) and employee stock ownership plans (ESOPs). We help maximise these opportunities to invest and define an appropriate exit strategy to help diversify your portfolio and protect you from over concentration in one stock.

F U R T H E R A D V I C E A N D I N F O R M A T I O N

Prior to making any investment decision, you should consult with your financial advisor about your individual situation.

Raymond James & Associates, Inc. Member New York Stock Exchange/SIPC

JASON WALKER Financial Advisor

U S / U K F I N A N C I A L P L A N N I N G

One Logan Square 130 N. 18th Street, Suite 1300 Philadelphia, PA 19103

215-640-3161215-496-9263Jason.walker@raymondjames.comhttp://www.raymondjames.com