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Opening and contributing to Roth IRA while living in Canada

dry.00

Hero Member
Oct 4, 2018
326
80
You seem to be missing my point.
I am not saying from a CRA or IRS taxation or income perspective. From stock market/US regulatory compliance perspective, it is not legal to operate/transact US brokerage accounts while not residing in US. If you tell your US broker that you moved to Canada, they'll immediately close your account. Some brokers support, but it's not very straightforward. Someone enquired with robinhood if they can continue to hold the account after moving to Canada, the answer was big no. Many do manage to keep the accounts by giving US address, but just because someone is able to keep, it doesn't mean it's legal.

I suggest going through this thread..

https://forums.redflagdeals.com/us-brokerage-canadians-2101566/
I was talking only on the taxes. Rest its up to the OP.
Thank you both for your insight.
From what I can gather, it's not really a problem as far as taxes are concerned, but the regulatory guidelines will prevent me from opening/maintaining the IRA legally.
I guess I'll have to make do with what I can with Canadian securities while I'm in Windsor.