Serbinski Accounting Firms

Thanks for the info!

Could I have the inheritance deposited into a Canadian bank account or would I have to have it deposited into a bank account in the USA? Since I am a non-resident, are there taxes or penalties if I leave the inheritance in Canada?

I am a Canadian living in the USA. I am a deemed Canadian non-resident according to Revenue Canada. I will eventually be receiving a Canadian inheritance from an elderly Canadian relative. What are the tax ramifications, US and Canada, for me as a beneficiary of this inheritance? I.e., tax rate, US ...

Thanks for all your help. I have one more question ... I am considered a deemed non-resident of Canada as of 1987. I have not filed a Canadian tax return since I left Canada to live in the US 20 years ago. I thought that since I had nothing in Canada except my RRSP, which I was not contributing to o...

Just wanted to share this link with you.

http://www.morningstar.ca/globalhome/in ... 4200315311

In the article, there is mention of the withholding amounts for RRSP withdrawals by a nonresident. There is a scale from 10% to 30% depending on how much is withdrawn.

No, it's totally my fault. I have not mentioned the RRSP to my current or previous tax preparers. The TD Canada person knows I am a US resident because she asked me for proof of my US residency and nonresidency status with Canada when I started enquiring about withdrawing the funds. Maybe I should d...

Thank you for the info. The Red Cross set up the RRSP through TD Canada Trust in the 70's and it was a locked-in account until I reached the age of 55. My contact with TD Canada Trust is the one who is telling me that any amount over $20,000 will be taxed at a 30% rate AND I will need to complete a ...

Hi - I'm new to this group. I am a Canadian. I married a US citizen and became a non-resident of Canada over 20 years ago, as of December, 1987. I have been living in the US since that time and I have a permanent US alien resident card. I kept an RRSP in Canada that was set up in 1974 when I worked ...