This is a multi-part message in MIME format. ---------------------- multipart/alternative attachment Sir: I found you on an old web site and wonder if you are still giving advice. I have been living in the US for 19 yrs and have kept my locked RRSP in Canada all this time. Now I am approaching 59 and wonder how I get my money out when I'm 59 1/2 without tax consequences. Can an RRSP be rolled into an IRA in the US? I appreciate any advice you can offer. JXXXXXXXXXXXXX Chicago IL __________________________________ david ingram replies: Because it is locked in, you will have to take it out as an annuity or a LIF which means monthly or annual payments like a pension. Canada will take 15% withholding tax and you will report the gross amount received on your US return. You will also file a US form 1116 to claim the foreign tax paid to Canada as a dollar for dollar credit against US tax. When you apply for your Canadian Pensions, they will NOT be taxable in Canada but will be added to your social security pensions and be taxed as social security. Your name has been added to our email list because of an enquiry we have received, we may not answer your question but another similar question will be as we lump them. You may find more answers at www.centa.com If the number of messages is too many for you or the US / Canada Taxation and Immigration information is not of interest, simply reply with a remove request. David Ingram of the CEN-TA REALTY Group US / Canada / Mexico tax and working Visa Specialists US / Canada Real Estate Specialists 4466 Prospect Road North Vancouver, BC, CANADA, V7N 3L7 (604) 980-0321 - Fax 913-9123 [email protected] www.centa.com www.david-ingram.com This from ask an income tax immigration planning and bankruptcy expert consultant guru or preparer from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate: multi jurisdictional cross and trans border expatriate problems for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, South Africa, Thailand, Indonesia, Egypt, Antarctica, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc. income tax wizard wizzard guru advisor advisors experts specialist specialists consultants taxmen taxman tax woman planner planning preparer of Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Garland, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico,New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon. Paris, Rome, Sydney, Australia Hilton Pennsylvania, Rhode Island, Rockwall, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia, Wisconsin, Wyoming, British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec City, New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland, Yukon and Northwest and Nunavit Territories, Mount Vernon, Eumenclaw, Coos Bay and Dallas Houston Rockwall Garland Texas Taxman and Tax Guru and wizzard wizard - ---------------------- multipart/alternative attachment An HTML attachment was scrubbed... URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/e3f7f047/attachment.htm ---------------------- multipart/alternative attachment--
