Serbinski Accounting Firms

canadiandeserter wrote:
> Would you mind sharing which custodian would force your wife to close the self-directed
> brokerage portion of the 401(k) plan?

It's TIAA. Actually in her case it's a 403(b), not a 401(k). I don't know if that makes a difference.

canadiandeserter wrote: > Are 401(k) accounts more likely to be kept open without restrictions compared to IRAs? As far as I can tell, you're less likely to have difficulties with a 401(k). My wife and I have 401(k) accounts at Fidelty, Voya and TIAA, and they've all told us that we'd be able to kee...

A potential problem with an IRA rollover is that many IRA custodians do not allow non-US residents to hold IRAs, or they may impose trading restrictions when you leave the US. If you already have an IRA and you're unable to find a custodian that will allow you to continue to trade in the account, yo...

If anyone's interested, I've given up on TD Direct and I'm now in the process of transferring my RSP to Questrade. Questrade allowed me to open a self-directed RSP even though I'm currently a US resident. (It depends on the state – they can't do that for residents of all states). The process for US ...

Background: I'm a Canadian citizen who now lives in the US (Colorado). I still have a Canadian RSP with TD Direct. (The RSP contributions all pre-date my move to the US). Until now I haven't had any problems placing trades in that account, other than the inconvenience of having to get assistance fro...

Could the new rules have an effect on US taxation of RRSP withdrawals? Previously I'd understood that the cost basis for an RRSP was the US dollar book value at the time one became a US resident, i.e. RRSP withdrawals were taxable in the US only to the extent that they exceeded the book value at thi...

Don't worry, this is perfectly normal. Now that you're living in the US they need you to provide them with your SSN (or ITIN). The way they get this information is by asking you to fill out a W-9 and send it back to them. No, they haven't moved your account to TD Waterhouse (US); the latter isn't ab...

[quote="nelsona"]The heloc interest is deductible simply because it was secured on your house. It doesn't matter what you spend it on.[/quote] That's correct so long as you aren't paying Alternative Minimum Tax. HELOC interest is tax-deductible for AMT purposes only if the loan is used to ...

Apologies for a slightly off-topic post, but there may be some members who're in a similar position with respect to a Canadian bank account. I'm a Canadian citizen and US resident. My Dad, who happens to live in S. Africa, has an interest-bearing bank account in the UK Channel Islands. He would like...