UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Author: mrbaker1917 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1193  
Subject: RRIF invest in US stocks? Date: 1/7/2012 2:14 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hello,

I am a newbie to this board. I tried to browse through to find an answer to this question, but I found nothing on this issue. I am a Canadian citizen, but a US resident. My parents are both Canadian citizens and live in Canada. They have an RRIF (Registered Retirement Income Fund). They had a broker at BMO looking after it and doing a terrible job. I am trying to encourage them to transfer it to CIBC Investors Edge and to manage it themselves with my help. My question is can they invest in US stocks inside their RRIF? Will they have to pay US taxes, if they do this?

Any help would be much appreciated.

Mark
Print the post Back To Top
Author: Commway One star, 50 posts SC1 Red Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1187 of 1193
Subject: Re: RRIF invest in US stocks? Date: 3/18/2012 8:30 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Mark,
I am a Canadian in Canada and my understanding of RIFs "Retirement Income Fund" is not great but the gist of it is that your registered money goes into it from your RRSPs after your 71st year. Money must be withdrawn (thus subject to taxes annually)

I don't believe there is any restriction on purchasing US stocks. Again, I assume taxes are paid at source but Canadians can apply taxes paid against Canadian requirements. I personally need to learn more of this for my own trading so I will follow up.

Bruce

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Advertisement