Returning to Ireland - Foreign pensions - Crowe Ireland

Returning to Ireland – Foreign pensions

Here's what you need to know about returning to Ireland.

Returning to Ireland - Foreign pensions - Crowe Ireland
Tax is always a major concern for ex-pats thinking of returning to Ireland. In a special holiday season series, our tax department are sharing some of the common questions that we are frequently asked from people who are looking to return home.
Question: I have made contributions to a foreign pension fund. Can I transfer these benefits back to Ireland?
The rules for transferring or accessing pension savings in a foreign pension fund are usually determined by that jurisdiction. Each country will have different rules attaching to such transfers. You should contact your pension administrator in the foreign jurisdiction to discuss what options are available for you to transfer the pension to Ireland.
Revenue will allow foreign pensions to be transferred to an approved occupational pension scheme, Personal Retirement Savings Account (PRSA) or Buy Out Bond where a number of conditions are met.
You also have the option of leaving the pension fund abroad. In some instances, it may be possible to continue to contribute to the overseas pension and claim tax relief on the contributions where a number of conditions are met.
If you have any questions about returning to Ireland or any other personal tax issues, please contact a member of our tax team.

Contact us:

Grayson Buckley, Partner, Tax - Crowe Ireland
Grayson Buckley
Partner, Tax
John Byrne, Partner, Tax - Crowe Ireland
John Byrne
Partner, Tax
Lisa Kinsella, Partner, Tax - Crowe Ireland
Lisa Kinsella
Partner, Tax
Andrew Whitty, Partner, Tax - Crowe Ireland
Andrew Whitty
Consultant, Tax