Descriptor: A Canadian inheriting a U.S. IRA faces different tax implications than an inheritance in Canada would generate, namely, income tax and income withholding in the U.S. and income tax in Canada. It may be possible though for such a beneficiary to defer taxes in both countries by establishing an Inherited IRA account. Cardinal Point's cross-border specialists are well positioned to guide you through the rules, procedures, and reporting requirements governing this option.
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