LIRA Transfer

Oliver · Post by **Oliver** » Thu Aug 18, 2011 5:33 pm

My wife has been resident in the US for more than 10 years and is now a US citizen. How easy is it to transfer her LIRA from one financial institution in Canada to another?

nelsona · Post by **nelsona** » Thu Aug 18, 2011 10:30 pm

Its not typically easy to ever change RRSP/LIRA accounts once in US.

First, the vast majority do not handle US clients at all. Yours obviously did, or may have put severe restrictions on what you could do.

Second, some firms which will "keep" existing clients who move to the US, will not accept new clients.

So, what is the issue you are having with your current institution, and what are you looking for from the move?

Oliver · Post by **Oliver** » Fri Aug 19, 2011 8:32 am

We just aren't happy with the current management that seems to be more concerned about generating fees than returns. Are there any discount brokerages that handle LIRAs for Americans?

nelsona · Post by **nelsona** » Fri Aug 19, 2011 9:39 am

TD Waterhouse does.

Oliver · Post by **Oliver** » Fri Aug 19, 2011 9:53 am

OK, thanks, I will try TDW.