U.S. tax on RRIF rollover upon death

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bwafusion
Posts: 34
Joined: Wed Aug 08, 2012 12:47 pm
Location: Florida

U.S. tax on RRIF rollover upon death

Post by bwafusion »

We are dual citizens residing permanently in the U.S. (Florida) and with each having a RRIF remaining in Canada. Should either one of us die I understand that the RRIF proceeds can be transferred to the RRIF of the other spouse (named as successor annuitant) free of tax in Canada, whether or not the receiving spouse is resident at that time in either Canada or the U.S. (submit Form NRTA1 to CRA) How does the U.S. view this transfer and are there any U.S. tax concerns related to this? Thank you
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: U.S. tax on RRIF rollover upon death

Post by nelsona »

Per the treaty, US must recognize the tax-free rollover, ie. US cannot consider it more taxable than Canada does.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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