RRSP withdrawal while resident in the USA

[JoeR]

I'm sorry if this topic has been covered already.

I have been working in the US for quite some time. I left behind some RRSPs in Canada. I never withdrew or contributed to the RRSP since I have been in the US.

I have been filing the appropriate forms to the IRS, the 'Rev Proc' and the 'TDF..." forms.

Long ago, when I left Canada, I gave the financial institutions holding my RRSPs an address in Canada where they have been sending my RRSP statements.

How do I go about informing them that I want to make a partial withdrawal? Will they throw a panic if they find out I am a USA resindent? From past experience some of the personnel working at these Canadaian finanacial institution are very narrow minded.

I have a good idea of what to do for the US part for the RRSP distribution.

Can someone help me out with my questions/concerns.

Thanks in advance.

[nelsona]

Yeah. By putting the firm in an illegal position, you will not be customer of the month.

You need to confess that you are US resident, and take your lumps.

Then the ywill tax you correctly at 25% withholding.

And then advise you to find a new broker.

[JoeR]

Does anyone know what happens if those financial instutions are located in Quebec. Do they withhold a part for federal and a part for provincial.

Every where I've seen on the internet sites says 25% non-resident withholding, is that 25% federal and 0% provincial?

Does anyone know the equivalent form for 'Section 217' for Quebec?

Thanks in advance
Joe

[nelsona]

NR tax is only federal, regardless of what instituion holds the RRSP -- as long as they know you are non-resident.

A 217 is only for non-residents of canada, so provincial taxation does not apply. Instead a federal non-resdiwnt surtax is applied to the basic fedral taxrate.

If you make any money at all in US, a 217 is not likey to benefit you.