Canadian citizen on TN1 invest in 529 fund?

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klaus
Posts: 1
Joined: Fri Mar 02, 2012 6:37 pm

Canadian citizen on TN1 invest in 529 fund?

Post by klaus »

We're Canadian citizens living in US on TN1 visa. Can I invest in VA 529 college fund for my kids. I ask because the VPEP and VEST forms under residency only give 2 options (US citizen & resident alien). TN1, as I understand it is a non-resident visa. Are we eligible to invest in either VPEP or VEST?

Thanks
Klaus
nelsona
Posts: 18314
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

You are resdident alian for tax purposes, but as I answere dyou elsewhere (and this is not the tax form, this is the immigration forum), 529 palns for Cdns who are here temporarily is not the best choice.

Tax-smart investing, with an eye to reduced or eliminated cap gains gives much more freedom, and will not be a headache that 529 plan will be iif you should return to canada before your child goes to school.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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