I recently withdrew some funds from my US 401K plan. I am over 60. Using the US Canada Tax Treaty the trustee deducted 15% withholding tax. I understand I can claim the foreigh tax credit but was wondering if there was any other favourable Cdn tax treatment for this amount other than just taking it into regular income.
Thanks
Mike
Search found 2 matches
- 17 Jan 2010 14:21
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Withdrawing Funds from 401K
- Replies: 2
- Views: 372
- 17 Jan 2010 14:11
- Forum: Retirement, Pensions and Peace of Mind
- Topic: DPSP & EPSP Questions
- Replies: 57
- Views: 15458
Re: DPSP & EPSP Questions
I retired in 2008 with a DPSP with my company. The funds are invested in company stock. Is there a need to convert this to an RRSP now or can I wait until I am closer to age 71. I am currently 62.