reporting requirement for Health Savings Account
Moderator: Mark T Serbinski CA CPA
reporting requirement for Health Savings Account
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?
Re: reporting requirement for Health Savings Account
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.
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