401 K
Moderator: Mark T Serbinski CA CPA
401 K
If I move to Canada from the US and become a Canadian permanent resident, what do I do with my 401K I earned in the US? If I'm neither US citizen or permanent resident, what's the best thing to do with my 401K? If I withdraw, tax is huge. If I borrow, interest is also high. What do I do?
Leave it where it is, or in an US-based IRA, until you retire.
What do you mean "If I borrow, interest is also high".
Borrow for what? Given that you will pay at 40% tax on your 401(k) withdrawal, I somehow doubt that the interst rate you would pay would be nearly as high.
<i>nelsona non grata... and non pro</i>
What do you mean "If I borrow, interest is also high".
Borrow for what? Given that you will pay at 40% tax on your 401(k) withdrawal, I somehow doubt that the interst rate you would pay would be nearly as high.
<i>nelsona non grata... and non pro</i>