ATO Community

Is US ESOP foreign super?

This post is archived and may not be up-to-date.

Initiate

Views 759

Replies 1

US 401k and IRA plans have been ruled "not" foreign super, because they are accessible before retirement and so are not strictly a retirement plan. What about an Employee Stock Ownership Plan (ESOP) which has stricter rules? 25% of the ESOP funds can be accessed at age 55 (if the employee has worked for the company at least 10 year), and another 25% at age 61. The remaining 50% cannot be accessed until the employee leaves the company. Are there any relevant rulings on this?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Certified Response

Devotee

Replies 0

Please see the employee share schemes (ESS) and foreign ESS rules here. They are not considered foreign superannuation schemes.

 

Typically, the taxing point (for ESS acquired post 30 June 2009) is when there is no longer a 'real risk of forfeiture' - see here.

1 REPLY 1

Most helpful response

ATO Certified Response

Devotee

Replies 0

Please see the employee share schemes (ESS) and foreign ESS rules here. They are not considered foreign superannuation schemes.

 

Typically, the taxing point (for ESS acquired post 30 June 2009) is when there is no longer a 'real risk of forfeiture' - see here.