Cdn resident with Roth?

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Joz
Posts: 3
Joined: Wed Mar 09, 2016 7:14 pm

Cdn resident with Roth?

Post by Joz »

I know that if a Canadian moves to the US and becomes a US tax resident, they should first close all of their TFSAs to avoid very complicated US tax filings. What about the analogues reverse situation: if someone becomes a Canadian tax resident, must they worry about any Roth accounts they have in the US?
nelsona
Posts: 18311
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

This is a tax question, best asked on the tax forum. However, the tax treaty affords protections for Roths held by Cdns, which were not incorporated into the treaty for TFSAs. They do need to follow a couple of rules however. Ask on the tax forum.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing :D
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