# US IRA transferring into Canadian RRSP



## colddigits (Jan 19, 2012)

Hello --
Does anyone know how we would go about getting the cash from a US IRA into a Canadian RRSP without getting hit with double taxation. The amount of cash would be around $80K. Does it have to go into a US bank first, to transfer to Canada?

Thanks for any and all help!


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## Auld Yin (Mar 10, 2009)

My first question must be, do you have enough room in RRSPs to transfer in such an amount?


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## colddigits (Jan 19, 2012)

I don't know, how can I find out how much room I have. I had a tax accountant tell me to look on my CRA statement but it only tells me how much I can put into TFSA's. I only opened the RRSP last year, do you think I should wait until I get another determination from CRA??


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## Auld Yin (Mar 10, 2009)

colddigits said:


> I don't know, how can I find out how much room I have. I had a tax accountant tell me to look on my CRA statement but it only tells me how much I can put into TFSA's. I only opened the RRSP last year, do you think I should wait until I get another determination from CRA??


Yes, I think you should for CRA reply. Also, here is something that may help you.
How to Transfer U.S. Pensions into Canadian RRSPs (Canada/U.S.)


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