bella712
Jun 22, 2011, 07:13 PM
I'm Canadian citizen and my uncle was an american citizen, I was name as the beneficiary for his IRA, now I need to liquidate his IRA and transfer them to Canada, my understanding is since this is an IRA I have to pay taxes to IRS, but according to the security firm holding this IRA I have to check with canadian accountant, my question is
Should I pay taxes to IRS and what is the percentage of the taxes or I should liquidate without paying taxes and pay the taxes in Canada.
Should I pay taxes to IRS and what is the percentage of the taxes or I should liquidate without paying taxes and pay the taxes in Canada.