Caymen Island IRA?
What happens when you have pension plans in other countries?
ANSWER: The Cayman Islands are not a state of the US, so the IRS cannot penalize you for this pension plan. It may be taxable income, but there will not be a penalty.
When you cash out a pension plan in the US you are hit with a 10% penalty plus about 30% in taxes. But you’re cashing out a pension plan in a different country, so it doesn’t follow the same guidelines as taxes and retirement savings in the US.
You need to see a CPA to find out exactly what to do about your taxes and retirement savings while you were working out of the country