Search found 29 matches
- Mon Oct 13, 2008 6:32 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Rolling over <$5k once back in Canada
- Replies: 13
- Views: 7795
You may check with a couple U.S. insurance companies as some of them will let you open an IRA annuity for as little as $2,000. You would be looking for a fixed, deferred annuity. Not necessarily a great investment, but competitive with many bonds funds. Fixed annuities are insurance contracts, not s...
- Sat Jul 05, 2008 9:19 am
- Forum: Canada / United States Tax & Accounting
- Topic: Moving back to Canada from U.S.A.: 401(k) IRA, Roth IRA
- Replies: 4
- Views: 4153
Non-Resident Accounts
I know from experience that the compliance departments of most U.S. brokerage firms have a knee jerk reaction to these scenarios and they tell their brokers, that they can't have clients in Canada under any circumstances. As Nelson mentioned there is a difference between retirement and non-retiremen...
- Mon Mar 03, 2008 1:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Combining RRSP & Spousal RRSP
- Replies: 1
- Views: 2571
Combining RRSP & Spousal RRSP
Client is U.S. citizen who lives in the states and will never live in Canada again. For convenience reasons, she wants to combine her RRSP and her spousal RRSP. When they hit 70, they will take minimum RRIF distributions and pay flat rate of tax due from non-residents on RRIf distributions. I don't ...
- Mon Mar 03, 2008 1:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSP investment options while in the US
- Replies: 10
- Views: 7928
Most mutual fund companies will deal with your RRSPs while in the U.S. Some insurance companies will allow you to purchase Seg Funds while a resident of the U.S., but the paperwork must be signed in Canada. The disadvantage of Seg Funds is their fees. The advantage is that many of them offer investm...
- Fri Feb 29, 2008 5:10 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Getting RRSP Withdrawals to the U.S.?
- Replies: 1
- Views: 2172
Getting RRSP Withdrawals to the U.S.?
With respect to fees and time, what is the most efficient way to get RRIF payments from Canada to the U.S.? Some family friends are going to need to take RRIF payments soon. They are in Ohio and rarely visit Canada. ManuLife won't/can't direct deposit into a U.S. bank account which is what these fol...
- Thu Feb 14, 2008 9:36 am
- Forum: Canada / United States Tax & Accounting
- Topic: More RRSP questions
- Replies: 10
- Views: 6480
Think of it this way. An RRSP contains money that was earned in Canada, but not taxed. Thus, Canada will tax that money when you take it out of the RRSP, regardless of your residence at the time of withdrawal. An IRA/401(k) contains money that was earned in the U.S., but not taxed. Thus, the U.S. wi...
- Mon Feb 11, 2008 7:16 pm
- Forum: Canada / United States Tax & Accounting
- Topic: can TD visa holder being self-employed?
- Replies: 4
- Views: 3860
- Thu Feb 07, 2008 10:55 am
- Forum: Canada / United States Tax & Accounting
- Topic: Questions for Canadian moving to US
- Replies: 30
- Views: 16787
If you have the option of being paid the same hourly rate as an employee vs. independent contractor, you will want to take the employee route. This assumes that: 1. There is some health coverage provided by the employer and they pay for a good share of it; 2. They have a 401(k) plan and make some ba...
- Tue Feb 05, 2008 2:40 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Educational Savings – 529 / RESP for grandparents?
- Replies: 2
- Views: 3653
529s & Savings For College
Nelson is correct regarding 529s vs. RESPs.
For further reading, I suggest the following two websites:
http://www.savingforcollege.com/
http://www.americanfunds.com/college/co ... -chart.htm
Regards,
For further reading, I suggest the following two websites:
http://www.savingforcollege.com/
http://www.americanfunds.com/college/co ... -chart.htm
Regards,
- Wed Jan 23, 2008 6:35 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESP Question
- Replies: 13
- Views: 8033
So the determining factor is whether or not the account owner, usually a parent or grandparent, will continue to reside in the U.S. If they will reside in the U.S. for the life of the account, it makes sense for Canadians to consider 529s. If they won't continue to live in the states, then probably ...
- Wed Jan 23, 2008 6:33 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSPs - Mutual Funds vs. Seg Funds - Regulations
- Replies: 3
- Views: 3026
I assume that most Canadians living in the U.S. visit Canada on a regular basis. If they were meeting with a Canadian broker during a visit to Ontario, could they buy a Seg Fund from him? If they are buying something that is not considered a security in Ontario, would it be considered a security in ...
- Wed Jan 23, 2008 1:36 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESP Question
- Replies: 13
- Views: 8033
For Direnasha
Have you thougt about opening a 529 for your child in the U.S.? The investments grow tax free as long an the withdrawals are used of qualified education expenses. For distributions to qualify, the university needs to be listed on the U.S. Department of Education's website. Many institutions are list...
- Wed Jan 23, 2008 12:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: U.S. Citizens & Residents with RRSPs
- Replies: 3
- Views: 3579
- Wed Jan 23, 2008 12:49 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRSPs - Mutual Funds vs. Seg Funds - Regulations
- Replies: 3
- Views: 3026
RRSPs - Mutual Funds vs. Seg Funds - Regulations
Has anyone researched the issue of Canadians living in the U.S. and having their RRSPs in Seg. Funds vs. Mutual Funds? Seg Funds and their U.S. equivalent, variable annuities, are regulated differently. In Canada, a seg fund is purely an insurance product from a regulatory point of view. Someone nee...
- Wed Jan 23, 2008 11:37 am
- Forum: Canada / United States Tax & Accounting
- Topic: What brokerages allow you trade in your IRA after leaving US
- Replies: 3
- Views: 3704
U.S. Brokerage
The brokerage firm I work for had no difficulty with this when I asked our compliance department. I suggest you try two different things. 1. Deal directly with the mutual fund company and ask the question prior to opening the account. Please be very specific about what you ask. You are asking whethe...