Nelsona, thanks for your response!! With regards to your comment on "other income you have from US etc" is that joint income tax filing income including US social security, wife's income etc>
Thanks again,
Search found 27 matches
- Fri Dec 04, 2015 1:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Resident RRIF/LIF withdrawals
- Replies: 3
- Views: 2546
- Thu Dec 03, 2015 10:23 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Resident RRIF/LIF withdrawals
- Replies: 0
- Views: 1933
US Resident RRIF/LIF withdrawals
As a Cdn Non resident living in the US, my minimum monthly withdrawals from my RRIF and LIF will exceed the revised lower minimum withdrawals for 2015 . I have a 15 % tax withheld at source for all withdrawals. I have been advised, if I choose, I can recontribute the "excess" withdrawals t...
- Thu Dec 03, 2015 10:05 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US Resident RRIF/LIF withdrawals
- Replies: 3
- Views: 2546
US Resident RRIF/LIF withdrawals
I am a US/Cdn. citizen, age 74, retired and living in US and no longer filing Cdn. tax returns. I am withdrawing my minimum required amounts on a monthly basis from my RRIF and LIF and have a 15% tax withheld at source. My withdrawals, my major source of income, are being partially reported as incom...
- Thu Jan 09, 2014 8:46 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US resident RIF/LRIF withdrawals
- Replies: 11
- Views: 6522
- Thu Jan 09, 2014 8:43 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US resident/Cdn. LRIF and RIF withdrawals
- Replies: 2
- Views: 1789
- Wed Jan 08, 2014 9:50 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US resident/Cdn. LRIF and RIF withdrawals
- Replies: 2
- Views: 1789
US resident/Cdn. LRIF and RIF withdrawals
I am a dual US/CDN citizen permanently living in the US and making my minimum required withdrawals from my RIF and LRIF on a monthly basis in Canadian funds. Both the RIF and LRIF accounts are being managed in Canada and are invested in both US and Canadian securiies, bonds, etc. . The problem is bo...
- Wed Jan 08, 2014 9:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US resident RIF/LRIF withdrawals
- Replies: 11
- Views: 6522
US resident RIF/LRIF withdrawals
I am a US/CDN citizen permanently living in the US with a RIF and LRIF in Canada. I left Canada and moved back to the States in 2007 and filed all proper tax forms. 2013 is the first year I had to withdraw from my RIF and LRIF and withdrew my required minmum amounts , on a monthly basis, and was sub...
- Fri Aug 16, 2013 4:29 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RRIF/LIF WITHDRAWALS
- Replies: 1
- Views: 1596
RRIF/LIF WITHDRAWALS
I am currently withdrawing from my RRIF and LiF at a 15% withholding rate. MY RRIF and LIF Plans are in Canada and I am a resident of the U.S. (dual citizen)I am 72 and am withdrawing my minimum withdrawala on a systematic basis. Upon my death, what will the tax effect be on the collapse and distrbu...
- Thu Jan 17, 2013 12:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TAX RATES ON RRIF/LRIF WITHDRAWALS FOR US RESIDENTS
- Replies: 10
- Views: 6024
- Wed Jan 16, 2013 6:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TAX RATES ON RRIF/LRIF WITHDRAWALS FOR US RESIDENTS
- Replies: 10
- Views: 6024
Thanks for your input, however, I am still confused on an issue. My understanding is to maintain the tax rate of 15% on periodic withdrawals under the treaty, My annual withdrawals cannot exceed the GREATER of 10% of my opening 1/1 RRIF/LRIF balances or twice my annual minimum required withdrawals, ...
- Fri Jan 11, 2013 10:56 pm
- Forum: Canada / United States Tax & Accounting
- Topic: TAX RATES ON RRIF/LRIF WITHDRAWALS FOR US RESIDENTS
- Replies: 10
- Views: 6024
TAX RATES ON RRIF/LRIF WITHDRAWALS FOR US RESIDENTS
I am a US/CDN dual citizen retired and living full time and permanently in the US. I worked in Canada for 30 years as result of a transfer and have had to convert my RRSP and LRSP into RRIF and LRIF this past year as I turned 71. I will be taking my minimum required withdrawals (on a monthly basis) ...
- Wed Sep 26, 2012 5:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: US RESIDENT TAX ON RRIF WITHDRAWALS
- Replies: 1
- Views: 1946
US RESIDENT TAX ON RRIF WITHDRAWALS
[HI from Florida, I am a US resident and dual citizen and must convert my RRSPs to RRIFs this year (age 71) I understand the withholding rate will be 15% if withdrawals done on a systematic basis Anyone have any experience with this?? Also what forms must be filed to facilitate transfer and lower ta...