L1B- Tax, RRSP, Banking accounts and OHIP?

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myflamesky
Posts: 7
Joined: Mon Jul 18, 2011 11:06 am

L1B- Tax, RRSP, Banking accounts and OHIP?

Post by myflamesky »

Hello all,

My wife and I are relocating to California, we both are Canadians and both are on L1B visa. We got a few questions and will greatly appreciate any help!

1. We know many people declare non-resident of Canada to avoid duplicate tax, and we may think about applying Green Card in the future but haven't really decided yet. So should we declare non-resident of Canada and delcare resident of the US? Is this the best choice?

2. Should we withdraw all RRSP money before moving to the U.S.? What are the pros and cons if we keep RRSP in Canada?

3. Should we cancel all Canadian banking accounts? Any pros and cons if we cancel them?

4. What should we do for OHIP? Do we need to contact OHIP office to cancel it?

Thanks a lot in advance!
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Please ask on the tax forum
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
myflamesky
Posts: 7
Joined: Mon Jul 18, 2011 11:06 am

Post by myflamesky »

sure, sorry, I was new to this forum.
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