As previously posted, I have been steadily withdrawing large sums each month from my IRA, with the intention of emptying the account by year-end and closing my account. This was my choice based on the letter Vanguard sent me saying I was ineligible for a brokerage account and would have limited access via the mutual fund platform after 2025, as quoted above by Ted Swippet and others. I have had no further communication from Vanguard during this year.
I just pushed the button to sell 100% of my remaining mutual fund shares, and the funds should be in my European account by Dec 31. I will pay 7% Italian income tax on the funds withdrawn and then the money will be all mine. I had a bit of spending leakage during the year, but did reinvest most of it (in a Vanguard ETF, mostly.) Vanguard withheld U.S. tax early in the year, after confusion over the status of my W8-BEN, but I'll be able to reclaim that next year by filing a 1040-NR.
So all in all, a good outcome for me, but still bittersweet to be kicked to the curb by Vanguard. Bye bye Vanguard after nearly 40 years.
I just pushed the button to sell 100% of my remaining mutual fund shares, and the funds should be in my European account by Dec 31. I will pay 7% Italian income tax on the funds withdrawn and then the money will be all mine. I had a bit of spending leakage during the year, but did reinvest most of it (in a Vanguard ETF, mostly.) Vanguard withheld U.S. tax early in the year, after confusion over the status of my W8-BEN, but I'll be able to reclaim that next year by filing a 1040-NR.
So all in all, a good outcome for me, but still bittersweet to be kicked to the curb by Vanguard. Bye bye Vanguard after nearly 40 years.
Statistics: Posted by Vogatrice — Sat Dec 27, 2025 6:47 am — Replies 48 — Views 16002