Transfer IRA from US
Has anyone had success transferring their IRA from the US to a Canadian RRSP? I have an IRA with Fidelity and bank with TD, but there doesn't seem to be a very elegant way to conduct the transfer. Both members on Fidelity and TD are pretty uneducated about this process and keep directing me to the other party. I've visited my TD branch and called into both Fidelity / TD multiple times already.
TD tried pulling the money from Fidelity, but Fidelity is unable to transfer the funds directly unless it's to another IRA account. TD Canada does not support IRA accounts.
The alternative is to send a wire, but Fidelity's form is tailored for US institutions requires a Routing / ABA Number. TD claims that an RSP account does not have this number or there is no number associated with the account.
Has anyone does this transfer before and what information / steps did you take? I am aware that transferring early might trigger a 10% reduction, but I am hoping to withdraw from the RRSP using the Home Buyer Program, so I think it is still worth it.
TD tried pulling the money from Fidelity, but Fidelity is unable to transfer the funds directly unless it's to another IRA account. TD Canada does not support IRA accounts.
The alternative is to send a wire, but Fidelity's form is tailored for US institutions requires a Routing / ABA Number. TD claims that an RSP account does not have this number or there is no number associated with the account.
Has anyone does this transfer before and what information / steps did you take? I am aware that transferring early might trigger a 10% reduction, but I am hoping to withdraw from the RRSP using the Home Buyer Program, so I think it is still worth it.