I'm trying to help my sister with a question about moving Canadian retirement assets to a US custodian. My sister owns a retirement fund that she inherited from her husband when he passed away. I don't know the exact kind of retirement account. I'm trying to get more details.
Her husband worked for a US railroad in the US. This railroad got bought by Canadian National railroad and this company retirement account holds only CN stock. The statement is from Computershare in Toronto.
Is it possible to do an in-kind transfer to a US custodian? If not, what are the Canadian tax consequences if she cashes this out? Can she cash this out slowly to reduce taxes? What kind of financial professional would she use to assist with this?
Her husband worked for a US railroad in the US. This railroad got bought by Canadian National railroad and this company retirement account holds only CN stock. The statement is from Computershare in Toronto.
Is it possible to do an in-kind transfer to a US custodian? If not, what are the Canadian tax consequences if she cashes this out? Can she cash this out slowly to reduce taxes? What kind of financial professional would she use to assist with this?
Statistics: Posted by GaryA505 — Fri Feb 09, 2024 8:34 pm — Replies 0 — Views 82
