Do I have to contribute to my American employees 401(k) plan?
No. If you hire US employees for your UK based business, you do not have to contribute to your American workers’ 401(k) plan. However, if you hire workers through Foothold America and choose to pay towards a 401(k) plan, we make an automatic match (up to 4%).
If you are UK based business hiring US staff to work for your company in America, you do not need to contribute towards your workers’ 401(k) plans.
Instead, you can offer an alternative benefit to allow workers to provide for their pension. However, while there’s no requirement that businesses contribute to a 401(k) plan, the majority of US employers choose to.
The extent to which you contribute is entirely up to you. If you choose to hire workers through Foothold America and want to pay towards your workers’ 401(k) plans, we make an automatic match of up to 4%.
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