US resident trading RRSP

donpjr · Post by **donpjr** » Sun Mar 17, 2013 6:16 pm

I live in US with several RRSPs in Canada. I am unable to trade within these RRSPs (at least Royal Bank will not execute). I am aware of restrictions on US residents trading securities in Canada, but is there a way around this for RRSP. In addition to regular RRSPs I have a "locked in" RRSP which was created when a company defined benefit plan was collapsed in favour of DC plan. The money is locked in a very low interest account with same restrictions as above. Any help is appreciated. I have lived in US for several years and filed the annual RRSP form with my US taxes. Thanks, this looks like a great forum.

nelsona · Post by **nelsona** » Sun Mar 17, 2013 9:27 pm

Yes, you need to MOVE youtr RRSP to s broker that will ahndle it.

TD waterhouse, for example.

donpjr · Post by **donpjr** » Mon Mar 18, 2013 4:52 pm

Thanks nelsona. You are saying TD has authorization to trade in US and Canada while RBC does not. Seems stange for a big bank like RBC ROyal Direct to not be able to do this. But I will be following up with TD. Thanks again.

nelsona · Post by **nelsona** » Mon Mar 18, 2013 5:09 pm

It is a corporate decision. And don't forget RBC is not RBC Direct, just like TD canadaTrust is not TD waterhouse.

You can find whatever broker you please. TD waterhouse is one.