Grand Rapids Business Daily

Does a 401K beneficiary have to live in the US?

I want to add someone as a beneficiary to my 401K, who lives in Germany. I can't find any regulations on this. Does anyone know if it's possible to select a beneficiary outside the US?

Public Comments

1. You will need to check with your 401k administrator. Some have restrictions, some don't. good luck!
2. I don't think there's any restriction on that. only problem is it's little hard for beneficiary to make a claim!
3. It's possible. Though if they aren't residents of the US the tax withholding will be 30% when you pay it out and not 20%.