Investment Account closure

SteveRPa New member

Member since 03 December 2020

SteveRPaNew member26 September 2023 06:48:10

Hello

I am an American expat living in Malta

I have just been informed that I have to close my US investment account because I live in Malta. I am concerned that the same might happen to my IRA and 401k accounts

Has anyone else experienced this? If so what action did you take? Any recommendations would be appreciated

Thanks

Cheryl Moderator

Member since 15 October 2018

CherylModerator26 September 2023 09:41:39

13664

Hello SteveRPa,

Welcome to 玩偶姐姐

Thank you for bringing your questions to this forum.

I hope you will find someone who can provide you with the assistance you need.

All the best,

Cheryl

玩偶姐姐 team

Pandorak Member

Member since 30 October 2019

PandorakMember03 October 2023 19:14:35

I have not heard about this before. Please can you clarify who told you this has to be done. Is it a requirement by the Maltese that applies to Americans, or that applies to American assets owned by anyone.

SteveRPa New member

Member since 03 December 2020

SteveRPaNew member04 October 2023 08:11:47

This happened to an Account I had with Fidelity. Malta was not on their list of countries they support. I recently had to update my contract details with them, maybe that's what caught their attention.

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Pandorak Member

Member since 30 October 2019

PandorakMember05 October 2023 15:54:58

I doubt if that would apply to your 401K and IRA accounts, since they are pension accounts. Information on this link might help. It looks like fidelity does not support discretionary investment accounts for people living abroad.https://www.fidelity.com/accounts/services/investors_outside_US_faq.shtml