“Unlike with an American citizen’s home-grown 401(k)s and IRAs, the Internal Revenue Service doesn’t tax withdrawals of principal from an imported Canadian retirement account. ‘If Uncle Sam didn’t give you a tax deduction for your contributions,’ Kristof explains, ‘the U.S. government doesn’t expect you to pay tax on the principal.’ Canadians would owe U.S. taxes on capital gains in their accounts. But Canadians can largely eliminate that liability by liquidating any stock holdings while their money is still under the maple-leaf flag. Some clients take their expatriate status one step further, setting up a work history in the U.S. so that they can qualify for Social Security and Medicare.”
http://blogs.marketwatch.com/encore/2014/02/18/why-canadians-want-to-retire-in-the-u-s/
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