Guest sheilamarie Posted November 21, 2003 Posted November 21, 2003 Can a 401(k) plan be rolled into a RRSP? A participant is moving to Canada and I can not find out any information on whether this plan would accept rollovers from 401k plans.
Mary Kay Foss Posted November 23, 2003 Posted November 23, 2003 No. You cannot do the rollover. If the 401k plan is rolled to an IRA, I'm not sure how Canada would tax it. The rule here is that a U.S. resident can make an election to only report RRSP income as the amounts are withdrawn from the plan. The state of California requires that each year's earnings be reported and taxed to a California resident with an RRSP. Mary Kay Foss CPA
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