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Convert a US IRA or 403B plan to a registered annuity

anonymous

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(Last modified: by anonymous)
#1

Hi. Is there any way to convert an IRA or 403B plan from the US to a registered annuity at a future date? I tried to do it through the "Incomes" section but the options for the purchase of the annuity are limited to RRSPs and RRIFs. Maybe there's a workaround but I couldn't figure one out. Thanks

admin

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#2

I looked up the rules on US retirement plans to conversions to Canadian registered annuities. It looks to me like you have to convert the plan to RRSP/RRIF first.  What does your insurance salesman say? 

anonymous

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#3

Thanks a lot.  In my case, I would convert to an annuity with the same US company.  It would be US funds.  Apparently no withholding tax on payments.  

admin

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#4

Ok,

I’ve changed it so it allows IRAs to buy registered annuities in the future, and Roths can buy prescribed annuities. They will be treated the same as Canadian annuities in the TIME MACHINE. Let me know if you have any issues.