DCPP LIRA or RRSP

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akumar
Posts: 20
Joined: Sat Sep 14, 2013 8:24 pm

DCPP LIRA or RRSP

Post by akumar »

Hello I am a Canadian and US Citizen living in the USA.

I have a TD Waterhouse RRSP & a Sunlife DCPP from when I lived and worked in Canada. I have long declared these to the IRS and haven't had to pay taxes on them.

Now my DCPP will start charging me fees, so Sunlife has said the best option is to convert to an LIRA. I think I can also merge into my RRSP.

Will the IRS view these any differently. Will they look at this as a new contribution to an RRSP?

Any advise?
nelsona
Posts: 18366
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Rollovers to RRSPs and LIRAs from existing plans are a non-event in US and Canada for tax purposes.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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