Many people living in Canada have spent some time living and working in the United States. They've accumulated retirement savings in the US system and have hard time getting any real help in managing these accounts. Using the rules in our Income tax Act to transfer your US retirement account to Canada is one option that may are pitched.
In this Globe and Mail piece, I explore whether you should move your IRA to your RRSP. It's not an easy decision and can quickly create a lot more problems for unsuspecting Canadians.
What should Americans who live in Canada now do with their IRA retirement savings?
Moving your U.S. Individual Retirement Account to Canada without understanding the full impact can be a costly mistake
Sam Rook
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