Thank you for your question. My name is XXXXX XXXXX I will be happy to help you tonight
Hello. I was looking over the tax treaty to verify my answer
Yes, the pension would only be taxable in Belgium
OK. I was looking at IRS Publication 515. Normally, I believe that the US tax rate would be 30%, but the tax treaty may change that.
Yes, in absence of the tax treaty it's a flat 30%
Could you indicate the section of the tax treaty that is applicable here?
But with the treaty, pensions are only taxable in your country of residence
Yes, it's Article 18
OK, thank you.
Is there anything else I can help you with tonight?
No. I want to check that I was clear that I am a US citizen, and my nephew (the IRA beneficiary) is a Belgian citizen who lives in Belgium. Was that clear?
yes, that is
When you are getting an inherited IRA it's taxed as if it is your pension
Because it is a pension account
OK, that's all I need. Thanks.
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