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I'm a Canadian citizen and now a US resident. How do I close my Canadian RRSP and TFSA?

Personal Finance & Money Asked by Canuck on August 29, 2021

I am a Canadian citizen who moved to the US in 2009. I am now a US resident and Canadian non-resident. I still have a Canadian RRSP, TFSA, and bank account. I’ve filed FBARs since becoming a US resident. I would like to close the RRSP and TFSA and eventually move all the funds to the US, but I am clueless about the financial or tax implications of doing this in either the US or Canada. How should I proceed, and what do I need to do to remain in tax compliance? The cross-border tax consultants I have found are prohibitively expensive.

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