moving a Roth 403b to Roth IRA

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Jonhello
Posts: 59
Joined: Sat Oct 05, 2013 1:28 am

moving a Roth 403b to Roth IRA

Post by Jonhello »

Sometime after moving to Canada, I would like to transfer (rollover) my Roth 403b to a Roth IRA and my traditional 403b to a traditional IRA (there will be NO Roth conversion). Would this be allowed? I can't do this transfer now as I will still be employed with the organization that holds the 403b for a few months after the move.

(Note: After the move to Canada, I will have sent the CRA a request for a one time election concerning the Roth 403b (but then later transfer it to a Roth IRA.)
nelsona
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Location: Nowhere, man

Re: moving a Roth 403b to Roth IRA

Post by nelsona »

TRANSFERS between Roths do NOT constitute a Cdn contribution.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
nelsona
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Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: moving a Roth 403b to Roth IRA

Post by nelsona »

Whether you will be able to open a new Roth while in Canada is a matter of policy for the firm(s) you deal with.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
Jonhello
Posts: 59
Joined: Sat Oct 05, 2013 1:28 am

Re: moving a Roth 403b to Roth IRA

Post by Jonhello »

nelsona wrote:
> Whether you will be able to open a new Roth while in Canada is a matter of
> policy for the firm(s) you deal with.


Thanks, Nelson. I already have a Roth IRA at Fidelity. So it will be easy for me to transfer the 403b to them.
Jonhello
Posts: 59
Joined: Sat Oct 05, 2013 1:28 am

Re: moving a Roth 403b to Roth IRA

Post by Jonhello »

Would I need to write the CRA and tell them that the ROTH 403b that I asked for a one time exclusion is now a ROTH IRA?
nelsona
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Joined: Wed Oct 27, 2004 2:33 pm
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Re: moving a Roth 403b to Roth IRA

Post by nelsona »

Apparently not. The exclusion is written in the year you arrive, based on the account(s) you have at the day of arrival. What happens after is not needed to be reported, other than a Cdn contribution.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
Jonhello
Posts: 59
Joined: Sat Oct 05, 2013 1:28 am

Re: moving a Roth 403b to Roth IRA

Post by Jonhello »

Thank you
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