Search found 3 matches

by scienceguy
Sun Feb 05, 2006 4:03 pm
Forum: Canada / United States Tax & Accounting
Topic: New IRS RRSP Form 8891 available @ IRS.gov - Post Q's here
Replies: 45
Views: 25648

RRSP cashing

Nelson, thanks for all of your posts to the various RRSP questions. I've read them and am just a little unclear how to treat the redemption of my RRSP. I am Canadian and have been living in the US for 5 years, and decided to redeem my RRSP (about 20K USD) this year. I have no Canadian income (and do...
by scienceguy
Mon Mar 28, 2005 9:31 am
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 30099

I have about 35K in the 401k, am 35 yrs old and would be moving to Canada in June so I'll have US income from Jan-June. Is this is a "complicated" situation? Or would it make things much simpler for me in the long run? Incidentally, I'd also be paying Massachusetts 5.7% tax as well I assum...
by scienceguy
Fri Mar 25, 2005 1:14 pm
Forum: Canada / United States Tax & Accounting
Topic: keeping 401k and IRA after moving to canada
Replies: 53
Views: 30099

On this topic, I am also considering moving back to Canada (I am a Canadian citizen) and am also wondering what to do about my 401k. Does it not make sense to remove it from 401k status prior to relocating, pay the US taxes and the 10% penalty on the notion that it will still be cheaper than paying ...