US -> Italy Expat, where to move funds?

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Geographer
Posts: 90
Joined: Sun Jun 03, 2018 12:45 pm
Location: Germany

US -> Italy Expat, where to move funds?

Post by Geographer »

I'm an American with interests in early retiring in Italy. All of my current investments are in Vanguard mutual funds (401k, IRA, and taxable brokerage) but I've seen that Vanguard is not so friendly for Americans living abroad buying/selling funds.

Before moving abroad, would it be recommended to convert all these funds to ETF equivalents, and transfer them in-kind to a more expat friendly brokerage such as Schwab or International Brokers? Which one would be the best in this case?

Thanks in advance!
assyadh
Posts: 582
Joined: Tue Sep 18, 2018 12:44 pm

Re: US -> Italy Expat, where to move funds?

Post by assyadh »

You have it perfectly thought. Convert to ETF and transfer to IBKR or Schwab.

Side note: check out the allowed cost basis in Italy for your brokerage account. Unlike the US, some countries sometimes only recognize the 'average cost basis' as allowed. That's the case in France for example. No spcific lot allowed.
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