Hello,
I am thinking of moving my 401K to Self-directed IRA and was reviewing Charles Schwab (CS) . Wanted to check if there are other Canadians who have experience with CS retirement accounts -
1. Ease of handling the account by sitting in Canada
2. Customer service and turnaround time
3. Ease of transfers/withdrawals (post retirement)
Are there any other firms who have experience with non-US residents' retirement accounts in the US? (TD Ameritrade is similar but has higher transaction fees than CS)
Are there any caveats one should be wary of in making this 401K-IRA move?
Thanks in advance.
Self directed IRA account with Charles Schwab
Moderator: Mark T Serbinski CA CPA
It is best to get some form of WRITTEN confirmation from the brokerage that you will be moving to, as the knowledge on the corporate policies varies greatly between agents/offices.
And, if possible, it is best to do this BEFORE leaving US, as there have been instances where a brokerage will accept CURRENT clients moving to Canada, but not new clients already having moved.
And, if possible, it is best to do this BEFORE leaving US, as there have been instances where a brokerage will accept CURRENT clients moving to Canada, but not new clients already having moved.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing
Thanks Nelsona.
I am already in Canada.
I already called and confirmed with both - TD Ameritrade and CS and explained that I am a NON-US resident with NO US address. They both said they have handled similar cases and allow opening of rollover IRA account. CS asked for W8-BEN form. TD Ameritrade didnt even ask for that.
Hence I would like to do due diligence prior to any move. Wanted to know if anyone else have already gone thru this.
Thx
I am already in Canada.
I already called and confirmed with both - TD Ameritrade and CS and explained that I am a NON-US resident with NO US address. They both said they have handled similar cases and allow opening of rollover IRA account. CS asked for W8-BEN form. TD Ameritrade didnt even ask for that.
Hence I would like to do due diligence prior to any move. Wanted to know if anyone else have already gone thru this.
Thx