Can I move 401k investment from the US to Canada?

I used to live in the US but moved back to Canada in the last year. What to do with my former US employer pension plan?

Hello,

A lot of it depends on the specifics of your 401K plan.

If the plan consists entirely of employer contributions then there is no tax deferral provision in the Income Tax Act. If it consists of employee contributions then there is.

However, regardless of who made the contributions there will be a 15% withholding tax on transferring to Canada, and again depending on the plan a 10% non-refundable penalty tax. So you might lose 25% of the assets right off the top.

I suggest you find a good cross border investment specialist and speak to them about this, as it is a complicated situation.

Tags

　　Investment Trading 　　Investment Strategy 　　Investment Services 　　Investment Portfolio 　　Investment Plan 　　Investment Performance 　　Investment Options 　　Investment Opportunity 　　Investment Manager

Related information

I found a sweet investment property out of the country for 200K Where can I get a loan to help finance this?

Sounds like an emerging market if there is "no" financing in-country, which is not a problem, but be very careful to ensure you are dealing with reputable people throughout the transactio...

Could an investment banker afford this house?

So what and who cares.

...

What would be a good to invest 拢50,000?

There are a lot of idiotic responses so far... Basically you can either invest in real estate (or land) and play landlord, or invest in paper assets... In paper assets, there is a bewildering array...

Is it true that for every 1 successful investment bankers, there are 999 that fail?

You either are an investment banker or you aren't. If you fail you find another job just like anything else. The hardest part is getting into the job. The rest is just busy work and a lot of i...

What is the best mutual fund to get my investment double?

I own the Gabelli asset fund (GABAX). It has more than doubled in the past 4 years. It has averaged 14.35% per year since 1986. I like this fund because it has high returns with a low beta. I...

I this property a good investment or at least not STUPID??

Quite frankly, given the tough situation with housing, I would favor any cabin style home which would be cozy and affordable. It's possible that a piece of land with a small cabin on it c...

What r the benefits of Amsure ulip investment of Rs10000/year for 20 years?

It is also an investment like any other investments with insurance link. This investment comes under sec.80C. The maximum tax deduction u/s 80C is limited to 1 lakh per year. If you wish, you can s...

Can you help me on my investment strategy? What do you suggest I invest aggressively into?

With a Ph D in economics, I do not have to explain that India and China are running circles around the U S economy. There are some good vehicles to allow you to invest in their economies. IIF ...