What can I invest in for my RRSP now that I am non-resident?

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reneekyNew Member
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Posts: 5
Joined: 7 Feb 2010

What can I invest in for my RRSP now that I am non-resident?

Post Mon Feb 08, 2010 8:47 am

I am forced to pay back my LLP and HBP when I became a non-resident of Canada so I plan to make a big RRSP contribution this year. However, once it's in a registered account, it seems like I don't have any investment options since now I am a non-resident and I cannot buy any stocks, mutual funds, gic, etc. Am I supposed to just leave the money there sitting there as cash in a registered account?? Any advice on what I can invest the money in??
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agnelsonCanuckAbroad VIP
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Re: What can I invest in for my RRSP now that I am non-resident?

Post Mon Feb 08, 2010 9:30 am

You need to move your RRSP to a broker that dela with you while in US.
Then most options you had before will be available.

And the pay back to RRSP when you move must be done in the first 60 days after departure, not simply by the regular RRSP contribution deadline.
This site is a travel site and not best source for these topics:
TN and TD info: http://forums.immigration.com/forumdisp ... -TN-Status
For US/Cdn taxes and SS/CPP:forums.serbinski.com/index.php
US Marriage-based Immigration: visajourney.com
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reneekyNew Member
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Posts: 5
Joined: 7 Feb 2010

Re: What can I invest in for my RRSP now that I am non-resident?

Post Wed Feb 10, 2010 9:04 am

Do you know of any RSP brokers that deal with someone like me, a Canadian who is now living in the US?
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agnelsonCanuckAbroad VIP
Posts: 2865
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Joined: 26 Aug 2009

Re: What can I invest in for my RRSP now that I am non-resident?

Post Tue Feb 23, 2010 9:19 am

TD Waterhouse is the only discounter that deals with US residents. there are several private firms that do.
This site is a travel site and not best source for these topics:
TN and TD info: http://forums.immigration.com/forumdisp ... -TN-Status
For US/Cdn taxes and SS/CPP:forums.serbinski.com/index.php
US Marriage-based Immigration: visajourney.com
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reneekyNew Member
Topic author
Posts: 5
Joined: 7 Feb 2010

How to report and get taxed on RRSP in California?

Post Sat Apr 10, 2010 3:13 pm

I am a Canadian living in California for the past year or so. I am wondering how I should report my RRSP and what exactly could I get taxed on?

I basically have a self directed RRSP account on CIBC and I haven't made any transactions to it since I moved (i.e., no buying or selling of stocks) so I have no capital gain, but may have some dividend payments to report. I have not made any withdrawals from my registered account so any dividends paid would still be sitting in there.

I also made one lump sum RRSP contribution to offset my LLP repayment last year but it's sitting as cash right now.

Can you advise on how I should complete my form 8891 and what my tax implications are, since I live in California?
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agnelsonCanuckAbroad VIP
Posts: 2865
Topics: 1
Joined: 26 Aug 2009

Re: What can I invest in for my RRSP now that I am non-resident?

Post Mon Apr 26, 2010 11:02 am

For california, you are liable on all income your RRSP generates internally (ie treat just like an ordinary non-sheltered investemnt account).

For 8891 questions see me at forums.serbinki.com
This site is a travel site and not best source for these topics:
TN and TD info: http://forums.immigration.com/forumdisp ... -TN-Status
For US/Cdn taxes and SS/CPP:forums.serbinski.com/index.php
US Marriage-based Immigration: visajourney.com
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