Can A Canadian Resident That Works in USA Contribute to a Roth IRA?

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bellemoj
Posts: 8
Joined: Tue Apr 23, 2019 12:54 pm

Can A Canadian Resident That Works in USA Contribute to a Roth IRA?

Post by bellemoj »

Hello,

I am a Canadian Citizen/Resident (TN Visa) and work in the states. I have a company 401k that I contribute to but I was wondering if I can open and contribute to a Roth IRA in the states. I have an RRSP and TFSA already on the Canadian side of the border if this helps... Are Canadians that work in the states (USD Income) allowed to contribute to a Roth IRA and if so, is this a good idea?

Thanks!
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nelsona
Posts: 18675
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Can A Canadian Resident That Works in USA Contribute to a Roth IRA?

Post by nelsona »

making any contribution to a Roth or Roth401(k) while living in Canada "invalidates" the Roth benefits, ie, you are no longer eligible for tax-free growth, so it is not advisable to do so in your situation.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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