I am not sure of what to put as the value of tax-deferred retirement. Are they asking for the value that my parent will be able to withdraw or have paid until now??
Also, is it an annual value or the total amount.
I am not a US citizen and the reitirement plans for my parents are slightly different. My dad pays a fixed amount to the country monthly while he works and when he retires he will receive a fixed monthly value until he dies regardless of the amount he has paid…
I’m not sure how this works…
The question that I believe you are asking about is referencing qualified (tax-deferred) retirement accounts as defined under certain provisions of the U.S. tax code. It sounds as if your parents do not have any such retirement accounts, which is completely understandable given that you and your parents are not U.S. citizens. The question is looking for the current balance of these accounts which would include contributions from the account holder plus any investment gains or minus any investment losses.