QUESTION:
Hi David, My company is transferring me from Seattle to their office in
Vancouver BC, where I would like to become a Permanent Resident. I asked
them if I could move/ transfer/ convert/ rollover my 401k fund to the
Canadian equivalent (RRSP?), but no one at my company or at the company's
retirement plan providers (US or Canadian) could give me an answer. It's a
concern to me because my spouse would be recognized as such under the
Canadian system, but not under the US system. Can you help? Thanks! Anne
-----------------------------------------
david ingram replies:
I know of no reason that you would want to roll it over to an RRSP.
Roll it into an IRA and leave it in the USA - one of "the" if not "the"
strongest economy in the world for years to come.
If you are desperate to get into Canada, it is possible to do by taking
money out which is taxable in Canada but which entitles you to put that
amount into a Canadian RRSP. The US will tax you on the withdrawal and you
will claim a foreign tax credit in Canada. Possible but not something I
recommend.
Answers to this and other similar questions can be obtained free on Air
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