Can u contribute to RRSP after your departure date? What kind of tax reporting do I have to do for US and Canada in this case?
Departure date - May 06
Contribution - Feb 07
Instead of trying to cash out stocks or getting the certificates and depositing in US trade accounts, will it be easier to transfer them to existing RRSP account. Ofcourse, it would have been nice that I would have done this before my departure date.
RRSP contribution after departure date
Moderator: Mark T Serbinski CA CPA
Yes, you can, subject to the usual 60 days after Dec 31 rules, i.e. tomorrow is the deadline! Note, if you had a Home Buyer's plan balance, the repayment was required within 60 days of your departure.
I doubt if a transfer would be easier. A cash deposit or transfer is always cleanest.
No Canadian reporting, other than claiming RRSP contribution on your final 2006 Canadian T1 return.
US reporting is the well known 8891 - see elsewhere on this board.
I doubt if a transfer would be easier. A cash deposit or transfer is always cleanest.
No Canadian reporting, other than claiming RRSP contribution on your final 2006 Canadian T1 return.
US reporting is the well known 8891 - see elsewhere on this board.