The Malaysian VJ Thread

[Whimplet 2]

We're going through the IR-1 process via London DCF right now, assuming approval sometime before the end of summer!

Once my Malaysian spouse becomes resident in the USA, has her SSN etc, she will be required to report on her worldwide income for USA tax purposes.

She has both the Malaysian Bumiputra ASB and ASB2 investment funds. I know that the USA has tricky rules around ETF's and other foreign funds.

While it's a very attractive investment vehicle, if it is severely taxed and a labour to report each year, it may not be worth retaining the funds.

Does anyone have experience with filing their USA tax returns and reporting the value/ownership of the ASB including yearly gains?

Is there an online resource somewhere with guidance for Malaysian's living in the USA for this and other tax questions (also how to handle EPF etc?)

Thx

[akihon 129]

We're going through the IR-1 process via London DCF right now, assuming approval sometime before the end of summer!

Once my Malaysian spouse becomes resident in the USA, has her SSN etc, she will be required to report on her worldwide income for USA tax purposes.

She has both the Malaysian Bumiputra ASB and ASB2 investment funds. I know that the USA has tricky rules around ETF's and other foreign funds.

While it's a very attractive investment vehicle, if it is severely taxed and a labour to report each year, it may not be worth retaining the funds.

Does anyone have experience with filing their USA tax returns and reporting the value/ownership of the ASB including yearly gains?

Is there an online resource somewhere with guidance for Malaysian's living in the USA for this and other tax questions (also how to handle EPF etc?)

Thx

Might be a good idea to consult an accountant