ING & IG said they dont' have license to sell / switch funds if a customer doesn't live in canada jurisdiction. However, manulife said there is no problem if i want to switch fund from A to B while i am in the US. Is that true? Anybody experience that? is that a US law or canada law?
thanks
switching rssp fund while in US
Moderator: Mark T Serbinski CA CPA
This is part of US securities rules which forbid CDn brokerages from delaing in RRSPs for US residents unless they meet state licensing. Most brokerages do not, but some do. which is why you, when first moving to US, need to identify such a broker (like TD waterhouse) and move your RRSP to that brokerage.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
You need to speak to the right people. Many of us on this board have self-directed RRSPs with TDW. Some funds are restricted to Cdn residents, but not all. In any event, you need to move your funds from the brokerages that are denying you, so you don't have much choice, other than just taking the money.
We have all been through this.
And remember, we are talking RRSPs. Indeed, non-sheltered accounts are not allowed to US residents.
We have all been through this.
And remember, we are talking RRSPs. Indeed, non-sheltered accounts are not allowed to US residents.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing