Search found 4 matches
- Sat Apr 02, 2022 3:00 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Late election to defer tax on ROTH
- Replies: 9
- Views: 3781
Re: Late election to defer tax on ROTH
1. I left Canada so have to file for the year that I left when I was resident there (and would like to avoid paying on the ROTH gains at least partially if possible) 2. I will be coming back to Canada in a few years and would like to understand if I can make this one time election and have it apply ...
- Fri Apr 01, 2022 4:24 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Late election to defer tax on ROTH
- Replies: 9
- Views: 3781
Re: Late election to defer tax on ROTH
Just an update in case someone else is in my boat. I mailed the late election and then wrote to cra to find out about the process. They said on receipt of the election they would send me snail mail as acknowledgement. But due to pandemic/truck convoy/etc there is a backlog and so there is a delay in...
- Fri Mar 18, 2022 5:49 am
- Forum: Canada / United States Tax & Accounting
- Topic: Late election to defer tax on ROTH
- Replies: 9
- Views: 3781
Re: Late election to defer tax on ROTH
Thank you for your insight. I will have to consider moving the ROTH if I ever go back to the US before going back to Canada. My hope in partial recognition of tax deferral came from reading 1.12 under Canadian Contribution: https://www.canada.ca/en/revenue-agency/services/tax/technical-information/i...
- Wed Mar 16, 2022 4:52 am
- Forum: Canada / United States Tax & Accounting
- Topic: Late election to defer tax on ROTH
- Replies: 9
- Views: 3781
Late election to defer tax on ROTH
I'm an American that lived in Canada for more than 10 years. In that time I did NOT file the election to defer tax on the ROTH IRA and have been paying taxes on it ever since. I also made a single Canadian contribution early on (big mistake, I know now). I read the information on the CRA site and it...