Hi there,
I have a US 401k (under $10k) which for various reasons I want to convert to an IRA (incl. the fact that the company I used to work for will soon be disappearing).
Can anyone recommend any US investment firms which will let me open a US IRA account while living in Canada? Eg, Vanguard, Ameritrade, Etrade, etc?
If I can't do this, any recommendations on what I should do?
Thanks!
-Paul
Opening US IRA account while in Canada
Moderator: Mark T Serbinski CA CPA
Your 401(k) is held by a management firm, of course, and not your old company. They likley have a rollover IRA in their stable, see if they will transfer your account into it.
Otherwise, it will be tough sledding to find a firm that will be willing to open up an accouny while in Canada. There are some smaller firms that might, but not for such a small portfoilio.
We've talked about the 401(k) ro RRSP transfer (search threads). This could be done, but you would end up losing the 10% early withdrawl penalty.
Otherwise, it will be tough sledding to find a firm that will be willing to open up an accouny while in Canada. There are some smaller firms that might, but not for such a small portfoilio.
We've talked about the 401(k) ro RRSP transfer (search threads). This could be done, but you would end up losing the 10% early withdrawl penalty.
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