Any Americans out there trying to get pension sent here??

[farmer]

Got a letter from Fidelity saying that the US govt will not allow electronic transfer of 401k and pension funds from USA, and will only send paper checks to New Zealand.
Advice please

Only Americans respond please, as there are special rules from the land of the free

[DMS]

While I'm not getting a pension sent here, I have a couple of thoughts but I will say I'm not entirely sure about their legality.

1. Open an account in the US so that the electronic deposits can be deposited and then transfer the money over. I'm not sure on the tariffs and fees with doing this so more research would be required.
2. IIRC Bank of America has an agreement with ASB so you might be able to transfer funds that way or at least have an easier time accessing your monies.

FWIW I wouldn't post "American's Only". While I understand your point, there are plenty of posters on here from Canada, UK and other places that may have experience with what you are asking about, especially in regards to taxes & tariffs of international money transfers that won't respond because of that statement. This message board is funny like that.

[JandM]

Not to mention, to my knowledge we have some members who work in NZ in banks or accounting, some of whom have a lot of knowledge about international financial rules, regardless of what country they originally came from.