Moving to Canada on TRV - 403b

[MNA2015]

Hi all,

I'm waiting for PR. My employment in the US is up in March. I'm planning to travel to Canada to visit my husband on TRV. I'm completely confused as to what I should do with my 403b. Should I cash out and pay the penalty?. Any helpful suggestions?.

Many thanks

M

 

[Snowisland]

I retired with a 403b and will move to Canada this summer. My financial consultant moved the money without penalty to another investment account to avoid maintenance fees. If I have to do anything with that money after I move to Canada I must cross the border to the US to sign paperwork if needed. My finance guy said just cross the border and go to a fax machine say at an office store or hotel, he will fax, I will sign and fax back.

 

[MNA2015]

Hi,

Thanks for the reply. Unfortunately, i cannot cross border because i'm a non-resident alien in the US. I will need US visa to be able to enter again. My work visa expires and i'm planning to visit my husband in the meantime in Canada while i wait for PR. One option is to convert into an IRA but they need a valid US address to be able to create one. If i may ask, when you say that financial consultant was able to move money to another investment account, did he move into an IRA/ Roth IRA?. or move into a different investment provider account?.

Many thanks.

M

 

[Snowisland]

He moved it to another investment that I had. I already had a traditional Ira and a Roth but the other investment was diversified and doing better.
Some people use a company that provides US addresses. They give you an address, not a po box, receive your mail, open it and scan it to you, or if you prefer they just mail it to you unopened. I don't have one but I heard about it and did a Google search to read about it.