Search found 3 matches

by pacanuck
Mon Apr 06, 2009 12:32 pm
Forum: Canada / United States Tax & Accounting
Topic: Cashing out RRSP while on H4, good idea?
Replies: 5
Views: 3484

Ok, I think I'm starting to get it. :)

The RRSPs would be declared as Canadian income on my Canadian non-resident return in 2010, and I would file the 217 at that time to claim a deduction against the whole amount.

On my 2010 US 1040, I would put $0 income...but wait, how do I know if the CRA has ...
by pacanuck
Mon Apr 06, 2009 11:42 am
Forum: Canada / United States Tax & Accounting
Topic: Cashing out RRSP while on H4, good idea?
Replies: 5
Views: 3484

Thanks for the quick reply!

Let me see if I understand this:

So, first I would notify the banks to change my RRSP status to non-resident. Then, I can withdraw the personal exemption amount (e.g. $9K) and pay the non-resident withholding tax. Whatever is left would be sent to me in the US in the ...
by pacanuck
Mon Apr 06, 2009 9:53 am
Forum: Canada / United States Tax & Accounting
Topic: Cashing out RRSP while on H4, good idea?
Replies: 5
Views: 3484

Cashing out RRSP while on H4, good idea?

Hi everyone,

Our situation is: My husband is an H1B, and I've been an H4 since 01/01/2009 and currently not working. We plan to stay in the US indefinitely, and are in stage 1 of our green card application. We're moving our tax home to the US for 2009, have cancelled our DLs, healthcare in Ontario ...