Are There Other People on L1 Visa Who Are Participating in 401K Plans

Dr. William:

I am on L1 B visa here for last 2.5 years working for Fortune 500 company. The benefits folks recently contact me and 
told me that I was not allowed to participate in US retirement plans (401K) and that they are returning all my previous 
contributions and earning back to me as an income. They said that they allowed to participate me for past 2.5 years by 
mistake.

My question is if this is true ? Are there other people on L1 visa who are participating in 401K plans ? what are my options 
here ? PLEASE HELP.


Answer

The L1B visa is a non-immigrant visa with immigration intent, same as H1B visa. With L1B visa, you can apply for Green 
Card at any time if you meet the qualification requirement, or if your current employer wants to sponsor you.

The 401K plain is an employee's benefit provided by many employers. If you are a formal employee, you should have it. 
There is no law or policy to not allow you to join it, because of your visa status. 

We know many H1B visa / L1 visa holders joined the 401K plain, and this never be a problem or even a question. The 
basic fact should be that you can join the 401K plain at any time, and get your money back if you want to go back your 
home country latter.

 

 

 

 

     

 

 

Green Card Apply Service - For All Your Immigration Needs

Green Card Apply Service
www.greencardapply.com