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Author: sukotto2 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75378  
Subject: IRA, 401k, and residency, oh my! Date: 3/5/2001 3:23 PM
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I worked in the US in '95 on a cultural exchange program, since then I've been home in Canada working (and at school). In early January I got a another job in the states and am living here (for the forseeable future).

I'm in the computer industry (so my pay is pretty good), young, and have no real expenses (Morgage, Spouse, Children, Car) so I can easily afford to put some money away for the long term. So, I'd like to know more about what retirement vehicle(s) to use... but I'm having some trouble making sense of everything (and my situation seems to be non standard). Like Lilu says in 5th Element "Please Halp".

I had no income last year, can I open an IRA? Do I have to file a tax return first?
How much money can I put in it for 2000 (assuming I can get one)?

Does an IRA conflict with a 401k plan? Do I have to choose one or can I have both? (It seems like I can have both but I'm unsure)

If/when I stop working in the states and move home to Canada, what happens to my IRA or 401k (in the case that I do so before I retire)? Can I keep it/them even though I'm no longer a resident?

Any pointers would be greatly appreciated.

Sukotto (The Can-knucklehead)
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