Are there restrictions as to moving investments within an existing RRSP if you are a US resident? (i.e. can you buy/sell mutual funds etc. within the RRSP - still within the boundaries of the RRSP rules - whilst you reside in the USA?) I had understood that it was restricted if the RRSP owner was residing in the USA.
Abe
Modify RRSP as a US Resident
Moderator: Mark T Serbinski CA CPA
Depends.
First and foremost, your current broker must be willing to do trades for US residents (most don't; none of the mutual fund companies are).
Second, you must live in one of the states (47 as of now) that allow their residents to trade in their RRSPs.
Third, your broker must comply with whatever regulations are inplace for your state.
Very few do this. Your broker will know. If they won't , TDWaterhouse is the only big brokerage that is allowing new customers from US to join them.
<i>nelsona non grata... and non pro</i>
First and foremost, your current broker must be willing to do trades for US residents (most don't; none of the mutual fund companies are).
Second, you must live in one of the states (47 as of now) that allow their residents to trade in their RRSPs.
Third, your broker must comply with whatever regulations are inplace for your state.
Very few do this. Your broker will know. If they won't , TDWaterhouse is the only big brokerage that is allowing new customers from US to join them.
<i>nelsona non grata... and non pro</i>