Cdn resident with Roth?

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Joz
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Joined: Wed Mar 09, 2016 7:14 pm

Cdn resident with Roth?

Post by Joz » Fri Sep 23, 2016 8:47 pm

I know that if a Canadian moves to the US and becomes a US tax resident, they should first close all of their TFSAs to avoid very complicated US tax filings. What about the analogues reverse situation: if someone becomes a Canadian tax resident, must they worry about any Roth accounts they have in the US?

nelsona
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Post by nelsona » Mon Oct 03, 2016 12:29 pm

This is a tax question, best asked on the tax forum. However, the tax treaty affords protections for Roths held by Cdns, which were not incorporated into the treaty for TFSAs. They do need to follow a couple of rules however. Ask on the tax forum.
Nelsona Non grata. Non pro. Search previous posts. Taking period between now and June off. Will only answer sporadically.

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