Disclaimer: this question applies to non US Persons only.
Hi everyone, hypothetical question here. Bulgaria has a tax treaty with the US where US retirement accounts are taxed in Bulgaria for Bulgarian residents (non US Person). It is my understanding that one could leave the US, severe ties (relinquish green card for example) and then deplete a retirement account, enjoying a flat 10% Bulgarian tax rate on the distribution (with W8-BEN), with no early withdrawal penalty due.
Thoughts?
Thanks