Search found 5 matches
- Tue Mar 19, 2024 12:08 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Joint Tenants, Bare Trust: any US Trust reporting?
- Replies: 4
- Views: 943
Re: Joint Tenants, Bare Trust: any US Trust reporting?
I'm no expert on any of this and also struggling to understand the new Trust reporting rules. The new reporting requirements are causing a lot of confusion, and a lot of extra work for many. I have had a similar exchange with a CRA Agent, ie. request a technical ruling. That just tells me even CRA d...
- Sun Mar 17, 2024 1:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Does Fidelity close your account if you move back to Canada?
- Replies: 16
- Views: 36998
Re: Does Fidelity close your account if you move back to Canada?
For what it's worth my mother has a Roth IRA at Fidelity. She uses RBC Bank (US) and Royal Bank (Canada). The fidelity Roth account is linked to her RBC Bank (US). She transfers $ from Fidelity Roth to RBC Bank, then cross border transfers it to her Royal Bank (Canada) $US account. She can then exch...
- Fri Mar 15, 2024 9:01 am
- Forum: Canada / United States Tax & Accounting
- Topic: Inherited Roth IRA
- Replies: 2
- Views: 1179
Re: Inherited Roth IRA
crossbordernut wrote: > Hi, we know all about the one-time CRA election that lets a new Canadian > immigrant Roth IRA holder prevent future taxation on the Roth under Treaty > XVIII 3(b) and (7). My question is, in the case of a Canadian resident dual > citizen inheriting a Roth IRA from his decease...
- Thu Mar 14, 2024 8:01 am
- Forum: Canada / United States Tax & Accounting
- Topic: Roth reporting
- Replies: 6
- Views: 422
Re: Roth reporting
Thanks Nelson - just had to double check.
- Wed Mar 13, 2024 4:38 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Roth reporting
- Replies: 6
- Views: 422
Re: Roth reporting
nelsona wrote: > yes they must be reported as pension income in order to determine your > gross income (for HST, CCTB, clawback purposes). They are then deducted on > your 25600 line as a treaty exempt income. I wanted to probe this a little more. I know you have answered this question before and yo...