ROTH IRA Canada

ROTH IRA Election – Income Tax Technical News no. 43

September 17, 2017

2723

I have helped hundreds of people successfully navigate from the US to Canada. If you're thinking of moving or retiring to Canada contact me today to chat about your plans.

I can be reached via email at phil@philhogan.com, by phone at 250-661-9417 or through my contact page here.

I look forward to speaking to you soon.

Phil Hogan, CPA, CA, CPA (CO)
Cross-Border Tax and Investment Specialist

The rules related to how you actually make the ROTH IRA election are contained within CRA’s Income Tax Technical News no. 43. To read the entirety of the technical guide please click the image below:

2 COMMENTS

Evie June 5, 2018 At 3:21 pm

Hi
I am a canadian and have an IRA with a US bank/broker and i would like to know if i can convert IRA into an IRA Annuity (roth ira). If so is there a with holding tax when i receive the annuity.
I have filed w8ben with the bank and i wonder if i enter my canadian social security on line 6 of the w8ben.

Any clarifications you provide are greatly appreciated.

Evie

Mark June 9, 2022 At 7:48 pm

Hey Phil, there is a slight updated version of Income Tax Folio S5-F3-C1, Taxation of a Roth IRA at the following link: https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-5-international-residency/folio-3-cross-border-issues/income-tax-folio-s5-f3-c1-taxation-roth-ira.html

You might just want to update the link above…

Regards, Mark

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