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CDN RRSP contributions-leave it or not to leave it?

By redBlue in Canada

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redBlue Collaborator

redBlue   1

Posted
Filed: IR-1/CR-1 Visa Country: Canada
 Timeline
Posted

I can't decide whether or not I should leave my RRSP contributions in Canada or sell them out and take it with me.

So I need some help.

What did u do with yours before u left the Canada?

If you sold them out and took it with you,do u regret?any cons or pros..

If you are keeping them here,do u regret?any cons or pros...

thnx

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Udella&Wiz Mentor

Udella&Wiz   325

Posted
Filed: Citizen (apr) Country: Canada
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Posted

Are your contributions considered 'Locked-in' ? I may be mistaken, but if locked in, you don't have much of a choice.

If the contributions were pre-tax...you'll take a tax hit if you are able to withdraw them. That was something I was concerned about.

Wiz(USC) and Udella(Cdn & USC!)

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BriCar Enthusiast

BriCar   0

Posted
Filed: K-1 Visa Country: Canada
 Timeline
Posted
I can't decide whether or not I should leave my RRSP contributions in Canada or sell them out and take it with me.

So I need some help.

What did u do with yours before u left the Canada?

If you sold them out and took it with you,do u regret?any cons or pros..

If you are keeping them here,do u regret?any cons or pros...

thnx

I left them there because they are long term investments to draw on in retirement.

There ia a 25% non resident fee when withdrawl time comes, rather than paying the tax rate on income while living as a Canadian resident.

The disadvantage I found was the the US Security and Exchange Commision will not allow a US resident to make any plan changes within their RRSP funds. All my RRSP statements are mailed to the US and I can call and talk about the performance of the investment, just can't make any changes.

Ask your RRSP consultant about that and the tax withdrawl considerations.

Individual Retirement Accounts, IRA's and Roth IRA's are availible in the US and are the equivilent of RRSP's.

I plan to draw from RRSP's and IRA's when the time comes.

Good Luck!

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redBlue Collaborator

redBlue   1

Posted
Filed: IR-1/CR-1 Visa Country: Canada
 Timeline
  • Author
Posted
Another thread with this same question was started here yesterday, the answers might help you too :)

http://www.visajourney.com/forums/index.php?showtopic=243754

ahh thnx trailmix..i didn't mean to repeat it...didn't see the threat before...

I-130 Journey

04-18-09 - I-130 sent USPS Priority to Chicago Lockbox

04-24-09 - I-130 received by USCS and the first touch

04-27-09 - I-130 NOA1 (California Service Center)

04-27-09 - Check Cashed

08-13-09 - I-130 Received NOA2 e-mail

08-17-09 - I-130 Received NOA2 Hardcopy (I-797)

NVC Journey

08-17-09 - NVC Received/Case number assigned

09-08-09 - NVC sent the first mail to the petitioner

09-08-09 - DS-3032 / AOS Bill Generated

09-08-09 - E-mailed DS-3032

09-09-09 - Mailed DS-3032

09-09-09 - Pay AOS Bill (Online)

09-10-09 - AOS Bill Show as PAID

09-10-09 - IV Bill Generated

09-11-09 - Paid IV Bill

09-11-09 - NVC accepted DS-3032(received an e-mail)

09-12-09 - Mailed I-864 Package

09-14-09 - IV Bill Show as PAID

09-15-09 - I-864 received at NVC

09-16-09 - Mailed IV Package(DS-230)

09-17-09 - DS-230 package delivered to NVC(confirmed via fed-ex)

09-21-09 - NVC received the DS-230

09-23-09 - NVC sent an e-mail asking for DS-230 package

09-24-09 - NVC confirmed that the DS-230 package received

09-26-09 - Login Failed!!!

09-28-09 - Case Completed at NVC --------------------------------------------------NVC stage is completed in 38 days

01-27-10 - Medical

02-05-10 - Interview Date

04-14-10 - POE

Done with USCIS until Apr 14,2012 (Removal of Conditions)

 
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