Canadian Resident with IRA in USA

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

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moi
Posts: 35
Joined: Sat Aug 13, 2011 9:47 am

Canadian Resident with IRA in USA

Post by moi » Mon Jun 01, 2015 8:28 pm

I was just informed by RBC wealth management that I have to change investors, because the gal I had, is no longer "allowed" to deal with me. I use to live in the US, moved back to Canada and reclaimed my citizenship, but my retirement money is still there. Does anyone know where I can find information on what has happened and how that will affect my investments, or my investing in the US? I wanted to move away from having an investor and start handling my money myself. Thanks

nelsona
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Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona » Tue Jun 02, 2015 9:38 am

You will need to find a brokerage that will handle your IRA while you live in Canada (obvious). US firms are allowed by securities regulations to manage pension funds for Cdns, but the vast majority do not. What most people do when moving back to canada (you didn't 'reclaim" your citizenship -- you moved back) is make sure that they find such a broker BEFORE leaving US.
There are a couple of firms that have been mentionned here, that can do this and accept existing funds. Pacifica and Blackmont I believe. Search on this forum for these firms which "straddle" the financial border.
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

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