What is a Qualified Recognized Overseas Pensions Scheme (QROPS)?
A QROPS is a pension arrangement sanctioned by Her Majesty’s Revenue and Customs (HMRC) agency and set up outside the United Kingdom (UK). It is used by individuals who permanently leave to the UK to take their pension savings with them to their new country of residence. If you’re considering retiring abroad, and have UK pension provisions, a QROPS allows you to transfer your pensions abroad, within the jurisdiction of your choice.
Can’t Transfer a QROPS to an IRA or a 401k Including a Solo 401k Plan
Because a QROPS are not U.S. retirement plans so not deemed a “qualified trust” as described in Internal Revenue Code Section 402(c)(4), they cannot be transferred to an IRA or a solo 401k plan. See An IRS advice memorandum AM2008-009.