Can A Canadian Resident That Works in USA Contribute to a Roth IRA?

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bellemoj
Posts: 8
Joined: Tue Apr 23, 2019 12:54 pm

Can A Canadian Resident That Works in USA Contribute to a Roth IRA?

Post by bellemoj »

Hello,

I am a Canadian Citizen/Resident (TN Visa) and work in the states. I have a company 401k that I contribute to but I was wondering if I can open and contribute to a Roth IRA in the states. I have an RRSP and TFSA already on the Canadian side of the border if this helps... Are Canadians that work in the states (USD Income) allowed to contribute to a Roth IRA and if so, is this a good idea?

Thanks!
nelsona
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Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Can A Canadian Resident That Works in USA Contribute to a Roth IRA?

Post by nelsona »

making any contribution to a Roth or Roth401(k) while living in Canada "invalidates" the Roth benefits, ie, you are no longer eligible for tax-free growth, so it is not advisable to do so in your situation.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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