ROTH IRA Election – Income Tax Technical News no. 43

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Each year I help over 500 clients file their Canadian and US tax returns as well as plan for both their Canadian and US investment accounts. I also regularly help new US clients plan for their move to Canada.

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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:

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1 COMMENT

  1. 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

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