There is no reason for your advisor to have ever heard of a regulated asset protection structure (RAPS). US advisors do not study this area of law and consequently do not advise on foreign retirement plan law. However, an IRC 402(b) Foreign Retirement Fund (RAPS) allows your assets to be held tax deferred for which you can file Zero Value on IRS Form 8938.
The perfect foreign financial investment account has statutory legal asset protection that is not subject to claims, counter-claims, new parties joined, summons, discover, depositions, interrogatories, nor judgment. This type of foreign investment account is perfectly defined for you in law and is best described as an IRC 402(b) Regulated, Registered, Recognized Qualified Foreign Retirement Plan.
Why Invest Offshore with RAPS
- Strong Asset Protection – Be protected by Governance from Governments. IRC 402(b) Regulated, Registered, Recognized Qualified Foreign Retirement Fund (RAPS), is a foreign financial investment account that has statutory legal asset protection and not subject to claims, counter-claims, new parties joined, summons, discover, depositions, interrogatories, nor judgment.
- Tax Deferral – The IRC 402(b) Foreign Retirement Fund (RAPS) allows your assets to be held tax deferred for which you can file Zero Value on IRS Form 8938.
- Totally Legal – In 2010 the IRS made a ruling that the tax opinion of your Attorney or Tax Consultant is no defense. Qualified Foreign Retirement Plans are laid out for you in IRS Code, Rulings and Guidelines and also if you look at US Treasury commentary as well as the IRS and Treasury commentaries. Also, read FATCA, TIEA and Double Tax Agreements.
- Investment Options – Choose your own management team from any jurisdiction; including the USA. RAPS: Custodian, Investment Platform, Advisory, Investment or Wealth Manager
You can invest FROM offshore through a ”RAPS” Account that is FATCA Qualified. This IRS Recognized offshore investment account (type), is excluded from probate, inheritance tax and estate tax. Also, you can exclude up to 100% of your income from current year tax, subject to country anti avoidance rules, that is IRS recognized. You file FBAR, IRS Form 8938 and no additional filing nor compliance requirements for this foreign investment account? (Not true of other foreign entity: LLC,IBC, Foreign Trusts, Foreign Limited Partnerships, Foreign Private Placement Life Insurance and Private Placement Variable Annuities, PPLI &PPVA all can be complicated, cumbersome and costly).
Within a RAPS you can open any Foreign Bank, Brokerage, Trading Account or foreign registered investment without having your application rejected. Once set-up you can hold investments gains and income offshore without any of it being a Passive Foreign Investment Company (PFIC). Plus, you can expand your wealth manager selections to include the top overseas award winners in the Extel Survey Awards, Lipper Awards, Sarmine Analyst Awards, S&P Capital I.Q. Awards and other top performers globally that are not available to S.E.C. registered broker/dealers.
With an offshore investment account in a RAPS, the investor can access the out-performing power of global hedge funds, and do it for less than the normally prohibitive minimums, as well as take advantage of special Institutional Only investments. This enables the offshore investor to take full advantage of Institutional Purchasing Power that is usually only available to the super-wealthy
The key purpose of this strategy is to geo-diversify and broaden your asset diversification choice, to maximize your portfolio’s safety and security. To geo-diversify does not mean many International eggs in ONE basket; it means different custodians, multiple jurisdictions and a truly global approach.
The above information is not intended to be tax advice nor is it intended to break any laws on tax; nor is it intended as a device for tax evasion. While the analysis was not intended to be applied as a legal documentation of the laws it does provide guidance regarding the current trend and the opportunities available under regulatory, registered and recognized retirement plan law. However, the specific IRS Recognized IRC 402(b) Foreign Retirement Fund (RAPS) Guarantees you all of these solutions every day!