Yes, both US and foreign pensions and retirement accounts are included when calculating your net worth. Depending on the type of pension, they may not actually be taxed under the Exit Tax, but their value is used to determine whether you are subject to the tax. And often this is what puts people over the threshold for the Exit Tax!
The value of the pensions can be tricky to determine, especially when those pensions are “defined benefit” employer pensions. We often see these with individuals who have worked for the World Bank, IMF, and large established employers. The pension valuation calculations for Exit Tax are complex. They consider the type of pension, the net present value or “accrued benefit” of future distributions, the location of work while earning the pension, and other factors.
