reporting requirement for Health Savings Account

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CKChoy
Posts: 2
Joined: Thu Jul 02, 2020 8:22 am

reporting requirement for Health Savings Account

Post by CKChoy »

I am US citizen and am currently working in Vancouver. I have been living in Vancouver since last December and planning to stay in Canada for several years at least. I have a Health Savings Account (HSA) for five years. If I want to transfer my HSA money from one company to another company (trustee to trustee transfer), will it trigger any reporting requirements?
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: reporting requirement for Health Savings Account

Post by nelsona »

No. As long as you do not make a withdrawal that is taxable in US (ie. a non-medical withdrawal), there is nothing to report in Canada either. Transfer between accounts is a non-event in both countries.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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