Search found 8 matches

by Bill
Fri Apr 08, 2005 12:05 am
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 30106

I've just been looking at QuickTax's Help comments on T1135 and it says, "You only have to report property that is specified foreign property." It then lists examples of specified foreign property. Following that, it goes on: "Specified foreign property does not include: an interest i...
by Bill
Thu Apr 07, 2005 11:43 pm
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 30106

That's what I was thinking. Thanks for the confirmation, nelsona. I note that there's no place on T1135 to indicate that my funds are in an IRA. Don't they wonder how I can have >$100K and report zero income from it?
by Bill
Thu Apr 07, 2005 9:18 pm
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 30106

As a Canadian resident filing and paying Canadian taxes, if I have an IRA from which I have extracted no money, do I have to file the Canadian tax form T1135 (Foreign Income Verification Statement)? My IRA is the only asset I have in the US. The form basically asks the value of the assets I hold out...
by Bill
Sat Mar 26, 2005 3:42 pm
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 30106

I started a thread on the same subject (Managing IRA from Canada) several months ago. I am a US citizen with an IRA and have been living as a Landed Immigrant in Canada for about 16 years. When I moved up here I had IRAs with two different mutual fund companies and had no problem in keeping them wit...
by Bill
Thu Jan 06, 2005 6:27 pm
Forum: Canada / United States Tax & Accounting
Topic: Managing IRA Account From Canada
Replies: 11
Views: 6752

Just an update to my post of 19-Dec. A call to the broker with whom I'd had an account when living in the US turned up the fact that he'd gone on to his Greater Reward a few years ago - no wonder he'd stopped sending me letters of solicitation. I spoke with a partner in the same office. He didn't th...
by Bill
Sun Dec 19, 2004 11:11 pm
Forum: Canada / United States Tax & Accounting
Topic: Managing IRA Account From Canada
Replies: 11
Views: 6752

Thanks for your input, Mark and nelsona. You both suggest that this is based on brokerage/SEC issues and not connected to anti-terrorist legislation. I attempted to open accounts directly with two mutual fund companies into which I would have transferred a portion of my current IRA. Representatives ...
by Bill
Thu Dec 16, 2004 9:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Managing IRA Account From Canada
Replies: 11
Views: 6752

Thanks for the suggestion, us1234. Unfortunately, several years ago TD Waterhouse, along with most other US brokerages, terminated the accounts of all their clients with Canadian addresses. This was well before 9/11 and had nothing to do with security. As I understand it, it was done because the US ...
by Bill
Fri Dec 10, 2004 3:09 pm
Forum: Canada / United States Tax & Accounting
Topic: Managing IRA Account From Canada
Replies: 11
Views: 6752

Managing IRA Account From Canada

I am a US citizen and have been living as a landed immigrant in Canada for 16 years. At the time I moved to Canada, I had an IRA account with a mutual fund company. I left it where it was and it's been accruing value since. I haven't added anything to it as I have a RRSP account in Canada. I recentl...