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  • 1 Post By Beanieskis

Moving ORSO funds to MPF to keep tax shield

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  1. #1

    Moving ORSO funds to MPF to keep tax shield

    question for you tax experts and retirement scheme SMEs,

    I've recently left my company and i'm currently in the US working for that company im leaving. They will release my ORSO component minus the HK MPF minimum amount into my HK bank account. This will trigger a tax event from the eyes of the IRS. Is there any way to roll the entire ORSO proceeds into MPF or a registered retirement investment type vehicle? I don't want the ORSO proceeds to be subject to tax as ordinary income.

    Any guidance or recommendations would be appreciated


  2. #2

    Join Date
    Feb 2009
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    Hong Kong
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    Quote Originally Posted by howiemandel:
    question for you tax experts and retirement scheme SMEs,

    I've recently left my company and i'm currently in the US working for that company im leaving. They will release my ORSO component minus the HK MPF minimum amount into my HK bank account. This will trigger a tax event from the eyes of the IRS. Is there any way to roll the entire ORSO proceeds into MPF or a registered retirement investment type vehicle? I don't want the ORSO proceeds to be subject to tax as ordinary income.

    Any guidance or recommendations would be appreciated
    (Not an expert)

    Have you asked if the ORSO account can be transferred in to a personal investment account? When my husband was made redundant by his firm he was given the option to either liquidate or transfer his plan in to a personal investment account (minus the mandatory MPF savings that were transferred to a personal MPF account). Have you asked if this is possible?
    howiemandel likes this.