What's the best way to transfer my existing funds in my bank to Canadian bank? Am I entitled to get taxed for the transfer, are there any limit / cap for the transfer? I would also like to xfr the funds from my 401k to Canada; Is it possible to move funds from my 401k to RRSP directly? I have always been encouraged by my friends to leave the funds in US and claim it upon retirement, but I am thinking of partial withdrawal (to meet some personal expenses) and move the rest to RRSP; (not sure if that is even possible) I know I'll have to pay penalty + tax in US for any partial withdraw, will there be any additional taxes in Canada for transferring the partially drawn funds to my Canadian bank account? Greatly appreciate your valuable input.
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Funds Transfer to Canada including 401k
- Thread starter gprasad.n
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You might want to post this question in this forum:
http://www.canadavisa.com/canada-immigration-discussion-board/canadian-finance-and-taxation-b25.0/
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http://www.canadavisa.com/canada-immigration-discussion-board/canadian-finance-and-taxation-b25.0/
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