Expatriating as a long term resident with RRIF.

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Pablo
Posts: 10
Joined: Fri Jan 10, 2014 10:06 pm
Location: USA

Expatriating as a long term resident with RRIF.

Post by Pablo »

As I may return to Canada within 10 years, I'm looking at the items that qualify one as a "covered expatriate", specifically "net worth" - and need to make sure if a RRIF would be included in "total worth" as an item that fits. "Any interest in a foreign pension plan or similar retirement arrangement or program"

Thanks!
nelsona
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Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

RRIFs definitely are included in your net worth for expat purposes.
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
exPenn
Posts: 107
Joined: Tue Aug 20, 2013 3:06 pm
Location: GTA

Post by exPenn »

Since RRIFs are considered to be Foreign Trusts, it is more appropriately listed on form 8854 under line 9 "assests held by trusts you own".
nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Yes. The question was on net worth.
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
Pablo
Posts: 10
Joined: Fri Jan 10, 2014 10:06 pm
Location: USA

Net Worth

Post by Pablo »

Thanks all. I asked the question because - of the two monetary items that exclude one from being a "covered expatriate" - net worth is the only one not indexed for inflation. It sits at US$2 million.....I'll just have to make sure I'm never THAT rich.
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