carpetbagger
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Nov-03-04 09:21 PM
Original message |
Anyone know about rolling over 401K/TSP into Canada? |
|
If I were to immigrate to Canada, what would or could I do with my 401-K and with my Thrift Savings Plan (which is a 401-type plan for employees of the US government)? Would there be any special tax liability either then or when I did retire?
What happens to people who put time in under the US Social Security system, and then put in time as a permanent resident and then citizen under the Canada Pension Plan?
I don't imagine people would know this, but I figured I'd ask. Otherwise, just let the post float down to oblivion, like the value of the US dollar.
|
Maple
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Nov-03-04 09:27 PM
Response to Original message |
|
we have RRSPs. A Registered Retirement Savings Plan. You can contribute to it anytime.
The only time you pay tax on it is when you retire, and by that time you'd be on pension, so it would be minimal.
As far as I know, you can simply convert what you have.
|
Massacure
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Nov-03-04 09:27 PM
Response to Original message |
2. Why not stick around to help us fight in 2006? |
carpetbagger
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Nov-03-04 09:58 PM
Response to Reply #2 |
4. Oh, I'm sticking around for a while to fight. (And make money.) |
|
Unless something unexpectedly bad starts going down, I'll be here for 06, 08, and at least 2010. However, I've got young children, and I would need to get them out in time to assimilate and catch up educationally before they grow up. If things go the way I think they might, there might be no way short of emigration that I can promise them and their children a decent life.
|
Not Me
(1000+ posts)
Send PM |
Profile |
Ignore
|
Wed Nov-03-04 09:28 PM
Response to Original message |
3. You have a couple questions, and should see a tax attorney, but |
|
I have some family with cross border situations. You don't need to give up your 401-k here...And, Canada allows dual citizenship, so you can retain your US citizenship as well. (The US frowns on it, but allows it).
You can have your US Social Security sent to Canada (or deposited in a bank). My Grandfather was a US/Canadian and my grandmother was a Canadian. He collected a larger US SS because he was married, and was also eligible for Canadian Seniors pension.
Again, I'd advise talking with an immigration and tax attorney. There are a lot of experienced people in this field in the major cities as well as in the US/Canada border towns and cities.
|
DU
AdBot (1000+ posts) |
Tue May 07th 2024, 06:13 PM
Response to Original message |