U.S. tax on RRIF rollover upon death
Moderator: Mark T Serbinski CA CPA
U.S. tax on RRIF rollover upon death
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
Re: U.S. tax on RRIF rollover upon death
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