401k to Rollover IRA.
Moderator: Mark T Serbinski CA CPA
401k to Rollover IRA.
I have not worked in 2021, so I will have no U.S. income in 2021 and only a very small amount of bank deposit interest to declare as Canadian income. I am a Canadian Citizen and resident. My former U.S. employer just did a distribution of my 401k at Principal to a U.S. Trust company which will become a Traditional IRA by default. What should I do with this account for tax purposes?