Rollover RRSP to IRA/401K
Moderator: Mark T Serbinski CA CPA
Rollover RRSP to IRA/401K
My wife and I have RRSP accounts that have performed well, but have been stagnant for the last 11 years since our return to the States. With the strengthening of the Canadian dollar, I would like to consolidate our retirement accounts. Does anyone know if it is possible to rollover the RRSP accounts into an IRA or 401K?
K. Ryan
No. it is now possible, in all but 1 or 2 states, to actively trade in one's RRSP, so stagnation should not be a problem.
Your choices are to leave the money until needed or take it as income, paying any Cdn or US tax upon withdrawal.
BTW, I trust you are in compliance with IRS's reporting reuirements for RRSP (form 8891 and TD 90 forms)
Your choices are to leave the money until needed or take it as income, paying any Cdn or US tax upon withdrawal.
BTW, I trust you are in compliance with IRS's reporting reuirements for RRSP (form 8891 and TD 90 forms)
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
You misunderstood my response. You CANNOT rollover, anywehere. There are a couple of states that don't even allow TRADING WITHIN your RRSP.
That is what I meant by "it is now possible, in all but 1 or 2 states, to actively trade in one's RRSP".
But have you been filing 8891.
That is what I meant by "it is now possible, in all but 1 or 2 states, to actively trade in one's RRSP".
But have you been filing 8891.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing