Hi everyone, it's Aaron Day here from Sao Paulo, Brazil with another episode of Offshore Maven. Investing offshore with a 402(b) the regulator asset protection structure. A few days ago, I did a video about the Super Trust that we use in Hong Kong, and it garnered a lot of comments. Several people called and wrote in with questions, and we've been able to guide them in the right direction and get their questions answered. We also had some more conference calls with the legal team in Hong Kong. Many people respond that this is just too good to be true. They wonder why their advisors have never heard of this before, and why they've never come across it either. Well, the study of pension plans goes back a long time. The 402(b) was introduced in 1986, but even prior to that, in 1974 when ERISA first came out, there was already an industry surrounding pension plans. However, it was primarily within the United States. No one ever anticipated that Americans would work overseas in such large numbers, nor did they expect US corporations to create foreign subsidiaries instead of relocating employees overseas. This change in pension plans and their structure led to an opportunity for the creation of the Hong Kong plan. Now, let's address the issue of guarantee. The guarantee is laid out in the IRS Code, specifically in the rulings and guidelines. If you examine the commentaries on FATCA, you will see that it recognizes foreign retirement plans as exempt. This means that the law in Hong Kong automatically aligns with the US and the EU, exempting the Hong Kong plans from any reporting requirements. They only need to report locally. This exemption provides a whole new cost structure. If you want to include Americans in the Hong Kong plan...
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Video instructions and help with filling out and completing Form 3520 Transactions
