Replying to Avatar Shawn

Cashed out Canadian RRSPs.

Jumped through hoops and completed comically complex forms.

Took an automatic 25% tax hit as a non-resident.

Got mangled on exchange rate to USD.

One less clown world connection. Worth it.
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Jaret 9mo ago

It may be different for you as a US citizen (I think you are) but I was looking at living in the states a number of years back and I read (as I recall) that via the tax treaty you could unwind RRSP essentially tax free. You likely had to put into a 401k or ROTH, etc.

Thankfully I don’t own RRSPs.

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Shawn 9mo ago

There’s no such cross-border treatment for retirement funds that I’m aware. The withholding tax does “enjoy” tax treaty status.

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Jaret 9mo ago

Enjoyable indeed lol.

https://www.investmentexecutive.com/newspaper_/building-your-business-newspaper/making-the-most-of-an-rrsp-rrif-when-moving-to-the-u-s/

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Shawn 9mo ago

Don't need it; not reading! lol

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Jaret 9mo ago

There was a couple paragraphs on tax neutral status but yeah that involves putting it in a controlled vehicle state side. Good move 😃