Banking, pensions and tax in Vietnam
Vietnam does not tax pensions from a foreign social insurance system, but tax residents pay 5% to 35% on worldwide income, and Social Security can be paid into a dong account.
How your pension reaches a Vietnam bank, what Vietnam taxes, and what you still report at home. Checked against official sources on Oct 8, 2026.
- Tax on a foreign pension
- 0% Social security pensions are not taxed. PwC Tax Summaries. Checked Oct 8, 2026.
- Top rate, local income
- 35% Over VND 1.2 billion. PwC Tax Summaries. Checked Oct 8, 2026.
- US Social Security
- Direct deposit SSA POMS. Checked Oct 8, 2026.
- UK State Pension
- Frozen GOV.UK. Checked Oct 8, 2026.
- Canada OAS
- No agreement Canada.ca. Checked Oct 8, 2026.
- US FBAR
- Over $10,000 Combined foreign accounts at any time in the year. FinCEN. Checked Oct 7, 2026.
Getting your pension paid in Vietnam
United States
Social Security
Yes. Social Security can be paid straight into a bank in Vietnam by international direct deposit: Vietnam is on SSA's list of direct deposit countries. Payments must go to a Vietnamese dong account at a local bank.
SSA POMS. Checked Oct 8, 2026.
United Kingdom
State Pension
It can be paid to you in Vietnam, but Vietnam is not on GOV.UK's list of countries where the State Pension goes up every year, so it stays at the rate you first receive there.
GOV.UK. Checked Oct 8, 2026.
Canada
Old Age Security
Paid while you live outside Canada if you lived in Canada for at least 20 years after age 18. Canada has no social security agreement with Vietnam, so time in Vietnam does not count toward that.
Canada.ca. Checked Oct 8, 2026.
Other countries: check whether your pension can be paid abroad, whether it keeps rising with inflation there, and whether your country has a social security agreement with Vietnam.
How Vietnam taxes you
You are tax resident in Vietnam after 183 days or more in a calendar year or in the 12 months from arrival, or if you have a permanent residence there, which includes a rented home with a fixed-term lease. Residents are taxed on worldwide income. Retirement pensions paid under Vietnam's social insurance law or a foreign equivalent are non-taxable, as is interest on bank deposits. Dividends and other interest are taxed at 5%, and employment income at 5% to 35%. Non-residents pay a flat 20% on employment income from Vietnam. The income tax scale:
| Taxable income | Rate |
|---|---|
| Up to VND 120 million a year | 5% |
| VND 120 to 360 million | 10% |
| VND 360 to 720 million | 20% |
| VND 720 million to 1.2 billion | 30% |
| Over VND 1.2 billion | 35% |
PwC Tax Summaries. Checked Oct 8, 2026.
What US citizens still report
US citizens file a US return on worldwide income wherever they live; there is no US income tax treaty with Vietnam. Two reports cover money held abroad:
| FBAR (FinCEN Form 114) | Over $10,000 combined, any time |
| Form 8938, single, living abroad | Over $200,000 at year end or $300,000 any time |
| Form 8938, married filing jointly | Over $400,000 at year end or $600,000 any time |
FinCEN; IRS. Checked Oct 7, 2026.
Pension and tax questions
Can I get US Social Security paid in Vietnam?
Yes. Social Security can be paid straight into a bank in Vietnam by international direct deposit: Vietnam is on SSA's list of direct deposit countries. Payments must go to a Vietnamese dong account at a local bank.
Will my UK State Pension go up each year in Vietnam?
It can be paid to you in Vietnam, but Vietnam is not on GOV.UK's list of countries where the State Pension goes up every year, so it stays at the rate you first receive there.
Is my pension taxed in Vietnam?
No, for pensions from a social insurance system. Vietnam lists retirement pensions paid under its social insurance law, or the foreign equivalent, as non-taxable income; the source does not single out private or employer pensions from abroad. US citizens still file a US return.
Do I still file a US tax return?
Yes, US citizens file on worldwide income wherever they live, and report foreign accounts on an FBAR once they pass $10,000 combined at any point in the year.
Can I get US Social Security paid in Vietnam?
Yes. Vietnam is on Social Security's list of international direct deposit countries. Payments go into a Vietnamese dong account at a local bank.
Is my foreign pension taxed in Vietnam?
Not if it is a retirement pension from a social insurance system: Vietnam treats pensions under its social insurance law, or the foreign equivalent, as non-taxable, even for tax residents taxed on worldwide income.
Does the UK State Pension go up in Vietnam?
No. Vietnam is not on GOV.UK's list of countries where the State Pension rises every year, so it stays at the rate you first receive there.
