13 – Roth IRA – One-Time Election

The Canada-U.S. Tax Convention allows immigrants to Canada to file a special tax election in their first year of Canadian tax residency. This election lets you keep the same tax benefits for your Roth IRA in Canada as you had in the U.S. – i.e., tax deferral on income earned in the Roth IRA, and, ultimately, no taxation when amounts are distributed in retirement. See the instructions for further information.

To help Unbordered prepare this election for you, please fill out this form with the required information. You should also provide us with the Roth IRA account statements for the month immediately before immigration and the month of immigration.