unlocking locked-in RRSP in Alberta for Washington

My_question_is: Applicable to both US and Canada
Subject:        unlocking locked-in RRSP
Expert:         taxman at centa.com
Date:           Wednesday November 02, 2005
Time:           11:07 AM -0800
QUESTION:
I am a Canaqdian citizen currentlya resident of Washington state, USA. I
have a locked-in RRSPin TD Canada Trust in Alberta. I would like to un-lock
the RRSP for the purpose of purching a home here.  The bank suggested
contacting the government and asking for permission, but could give me no
other contact information or advice.  Is it possible to make this
transaction, and how would I go about it?
Thank-you
-------------------------------------------------------
david ingram replies
You are in luck.  Alberta is one of three jurisdictions which allow the
unlocking g of a locked in plan when you become a non-resident of Canada.
However, I have never been involved in an Alberta locked-In plan withdrawal.
In BC, you must be gone for more than two years and write the Superintendent
of Financial Institutions for written permission to withdraw the money. The
superintendent writes the letter to you, you take it to the Financial
Institution which withholds 25% tax and gives you the rest. A letter from
the CRA will also help.
Alberta's rules allow for the withdrawal as soon as you have become a
non-resident.  You need a letter from the CRA acknowledging that you are a
non-resident.  Take it to the TD - Canada Trust Branch along with a copy of
http://www.finance.gov.ab.ca/publications/pensions/pdf/info_accessing_pensio
n_funds.pdf#search='unlocking%20rrsp%20non%20resident%20alberta'
And you should get your money less a 25% withholding tax.
Let me know what happens.
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