Thought it would be useful info for people on this discussion board
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Dear Mr. Sargant:
Thank you for contacting Fidelity, and for your intent to rollover additional assets here. We greatly appreciate your business, and it is my pleasure to assist you today.
It is certainly possible to maintain or open new IRA accounts at Fidelity. We are not permitted to open or service non-IRA accounts because of Canadian securities regulations, but IRAs can be held at Fidelity. However, being outside the US will have some limitations. We are not able to mail you promotional information like an application outside the US, nor are we able to offer guidance or discuss new products or services while you are physically outside the US.
We are also not able to direct you online, but you can still access and trade your account on Fidelity.com, or via phone.
As far as rolling over assets from a former employer retirement plan, a Rollover IRA offers you a wider variety of investments than most company retirement plans while continuing the tax deferred status of your retirement assets. You could also use your existing Roth IRA, if you wanted to convert pre-tax assets and pay the taxes now.
You can establish a Rollover IRA online in about 10 or 15 minutes by clicking on the Open an Account link at the top of Fidelity.com. Once you have your account number, you will need to contact the firm currently holding the retirement assets from your previous employer. Most plans will have a distribution form for you to complete and return, but some will allow for distribution requests over the phone. You will need the following information to have a check sent to Fidelity as a direct roll over.
Name of your Fidelity Plan: Rollover IRA
Make the check Payable to: Fidelity Management Trust Company
FBO: your name / account number
Mail the check to this address: Fidelity Investments
Attn: Corporate Rollovers Dept.
P.O. Box 770001
Cincinnati, OH
I hope this information is helpful to you, Mr. Sargant. We appreciate your business with Fidelity. Please know that whatever your destination, Fidelity has the people, guidance and investments to help you find your way. Turn here if you have any other questions or comments and we will be glad to assist you.
Sincerely,
Dave Larson
Fidelity Brokerage Services LLC, member NYSE, SIPC
Response from Fidelity re: Holding non-resident IRA accounts
Moderator: Mark T Serbinski CA CPA
We are Canadian but I personally never thought that citizenship was the issue.
I figure they just don't want to deal with hassle of non-residents period. Perhaps they are anticipating some kind of massive U.S government crackdown on auditing/reporting/monitoring of accounts held by foreigners and just don't want to bothered with it :)
I figure they just don't want to deal with hassle of non-residents period. Perhaps they are anticipating some kind of massive U.S government crackdown on auditing/reporting/monitoring of accounts held by foreigners and just don't want to bothered with it :)