I work in NY state on TN, I have a self-direct RRSP account with TDW, and I understand that I will be able to do trading while I'm in the US. My question is: how to transfer my account to TDW in US in order to trade stocks or mutual funds by myself? or will I lose this on-line trading priviledge when I'm in the US?
Please tell me if my understanding is correct or wrong: the only thing I need to do about my RRSP account is to inform TDW about my US address. I can only call TDW Canada to ask them to do the transactions for me when I want to buy / sell in US?
Thanks in advance.
Still a RRSP question
Moderator: Mark T Serbinski CA CPA
TDW does not permit online trading for RRSP accounts, because of regulatory issues. You will need to notify TDW when you move, and they *might* change your account number, but that should be it.
They will usually give you the lower online trading fees.
You will have no dealings wuth TD in the states; they are different entities.
You will thereafter still need to abide bu the IRS regulations about reporting the existence of the RRSP on form 8891 and TD F 90-22.1 form
They will usually give you the lower online trading fees.
You will have no dealings wuth TD in the states; they are different entities.
You will thereafter still need to abide bu the IRS regulations about reporting the existence of the RRSP on form 8891 and TD F 90-22.1 form
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
RRSP on form 8891 and TD F 90-22.1
I'm still confused about RRSP reporting. If I report them on 8891, for this year and past years, do I still have to report them on TD F 90-22.1 as well. I thought the 8891 took care of all RRSPs and that the other was not necessary.
Also, we traditionally keep less than 10,000 excuding RRSPs in Canada, but we sold our house this year and the money was in the account for about 15 minutes while it was being transferred to the US. I guess that means that I need to report it on the TD F 90-22.1 because it was there at some point in the year. Do I really need to worry about that 15 minutes since no interest income was earned?
Also, we traditionally keep less than 10,000 excuding RRSPs in Canada, but we sold our house this year and the money was in the account for about 15 minutes while it was being transferred to the US. I guess that means that I need to report it on the TD F 90-22.1 because it was there at some point in the year. Do I really need to worry about that 15 minutes since no interest income was earned?
TD form is separte and must include ALL foreign accounts. Period.
Since you ahve RRSPs of over 10,000, all other accounts also need to be preported along with it, even if they only have 10 cents
Since you ahve RRSPs of over 10,000, all other accounts also need to be preported along with it, even if they only have 10 cents
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
Thank you so much.
Can the TDs be back dated as well?
There is no provision to backdate these. However recent rumbling at Treasury are indicating that when finding a problem they are going back 6 years.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best