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
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 Money must be withdrawn (thus subject to taxes annually) I don't believe there is any restriction on purchasing US stocks.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
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M