dual citiz Can/US living in Canada needs to rollover US 401K to IRA

grenadier · #1 May 8, 2007, 08:09 PM

I am dual citizen; I live in Canada, pay US taxes & Canadian taxes; I have 401K of about 260,000; I am 66 and want to rollover the 401K to ira and be able to make withdrawals to a US bank account linked to my US account here in Canada. & pay taxes in regular fashion. What is the best way? which company, eg. T Rowe Price or such can I use?
(I was told they cannot send docs to Canada, but got a verbal agreement that I can use a NYC daughter address for docs to be sent to.

Is this going to work? what caveats? I need to be legal and correct. Grenadier

AtlantaTaxExpert · May 17, 2007, 01:03 PM

As long as the rollover is between the U.S.-based 401K into a U.S.-based IRA, there should be no problem. ANY company that serves as an IRA custodian should be able to accommodate you.



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