reporting requirement for Health Savings Account

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reporting requirement for Health Savings Account

Post by CKChoy » Thu Jul 02, 2020 8:30 am

I am US citizen and am currently working in Vancouver. I have been living in Vancouver since last December and planning to stay in Canada for several years at least. I have a Health Savings Account (HSA) for five years. If I want to transfer my HSA money from one company to another company (trustee to trustee transfer), will it trigger any reporting requirements?

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Re: reporting requirement for Health Savings Account

Post by nelsona » Thu Jul 02, 2020 1:22 pm

No. As long as you do not make a withdrawal that is taxable in US (ie. a non-medical withdrawal), there is nothing to report in Canada either. Transfer between accounts is a non-event in both countries.
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

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