From: David Ingram [taxman@centa.com] Sent: Wednesday, August 06, 2003 1:53 
PM To: CENTAPEDE Cc:  Subject: Can a US resident / US 
citizen have a Canadian RRSP - 

RE: Jurock.com 'Ask an Expert': A Question for 
You on Wednesday, August 6, 2003 at 12:42:40 

My question involves the US and 
CANADA but is US-specific QUESTION: David, I lived in Canada for a period of 30 
years as a landed imigrant. Durring that time I purchased an RRSP and paid into 
it on a regular basis. I have since returned to the US and have been 
contributing to IRA's instead. I have recently been told that US citizens aren't 
allowed to have RRSPs. Is this true and if so, what should I do? Sam 
--------------------------------------------------------------------------- US 
citizens are allowed to have a Canadian RRSP but there can be a problem dealing 
with it if you wanted to change your internal holdings. However, the US treasury 
has recently released a notice which imposes heavier reporting rules. If you do 
not follow the rules imposed by REV.PROC 2002-23 and yesterday's NOTICE 2003-57 
you WILL be hit with massive penalties. You can find details of what to do in 
Jonathon Chevreau's excellent article (and my comments) at 
http://lists.belcarra.com/pipermail/centapede/2003-May/000046.html If you need 
help with the reporting, we will look after it for $300 Canadian for the first 
RRSP and $100 for each additional RRSP. To deal with it you can fax a copy of 
the DEC 31, 2001 and Dec 31 2002 year end accounting statements PLUS a copy of 
your 2002 1040 to us at the following address. When we have done this year, you 
should be able to follow the format yourself next year and if you want to take 
enough time, you can find the exact instructions in the URL mentioned above and 
repeated here: 
http://lists.belcarra.com/pipermail/centapede/2003-May/000046.html 

 david ingram 
- taxman@centa.com
108-100 Park Royal South West Vancouver, BC, CANADA, 
V7T 1A2 (604) 913-9133 - (604) 913-9123 www.centa.com
Cell is (604) 657-8451 (10 AM to 10 PM seven days a week) 

US/Canada Real Estate Taxation Specialists US / CANADA / MEXICO Working Visa and 
Income Tax Specialists Disclaimer: This question has been answered without 
detailed information or consultation and is to be regarded only as general 
comment. Nothing in this message is or should be construed as advice in any 
particular circumstances. No contract exists between the reader and the author 
and any and all non-contractual duties are expressly denied. All readers should 
obtain formal advice from a competent and appropriately qualified legal 
practitioner or tax specialist in connection with personal or business affairs 
such as at www.centa.com

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