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Posted Tue, 22 Aug 2023 15:33:03 GMT by
US citizen resident in UK. I have an IRA I intend to liquidate. Under DT a lump sum payment is taxable in USA but not USA: "A lump-sum payment derived by a resident of one State from a pension scheme established in the other State shall be taxable only in that other State." Question: what defines a 'lump sum'. If I take half now and half next year, is that two lump sums?
Posted Tue, 29 Aug 2023 14:16:41 GMT by HMRC Admin 19
Hi,

A lump sum payment indicates that only one payment will be made.

Thank you..

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