Cdn resident with Roth?

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Joz
Posts: 3
Joined: Wed Mar 09, 2016 7:14 pm

Cdn resident with Roth?

Post by Joz »

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
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

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.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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