401(k) not applicable?

New / Mgmt .,.
Aug 19 8 Comments

I'm from Canada and getting a job in SF and they are offering me 401(k) as a part of their offer.
I will be on TN Visa and then the company will apply for H1-B for me.

Since I'm actually from Canada does 401(k) apply to me?
If not can I ask for some extra cash be added to my TC instead of this 401k?

comments

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TOP 8 Comments
  • New VFcO68
    I think 401k applies. I regret the years when in h1b that I didn’t participate in the 401k of previous company: I left some free money under the table
    Aug 19 1
  • BMW / Eng
    amsdc24

    BMW Eng

    BIO
    ML Engineer at BMW.
    amsdc24more
    401k applies even if you are on OPT (F visa). It is a good idea to contribute to it even early on
    Aug 19 0
  • Gusto walala
    401K is excellent because it reduces your tax and at he same time build your nest egg.

    If you company offer matching, that’s even better because that’s essentially free money!
    Aug 19 0
  • Broadcom Ltd. / Eng
    headbanger

    Broadcom Ltd. Eng

    PRE
    Intel, Broadcom Ltd.
    headbangermore
    I like option 4 in below article: roll everything over to Roth IRA before moving back to Canada.
    https://www.advisor.ca/columnists_/melissa-shin/how-to-bring-401ks-and-iras-to-canada/
    Aug 20 0
  • Broadcom Ltd. / Eng
    headbanger

    Broadcom Ltd. Eng

    PRE
    Intel, Broadcom Ltd.
    headbangermore
    Aug 20 0
  • Apple FPPM52
    Canadian here. Advice : open one. Canada recognize 401k as part of a tax treaty. It gets the same treatment as a RRSP.
    Aug 19 0
  • Amazon TRuc81
    You can convert 401k to rrsp if you go back home, just read up on the rules / problems with that and you’ll be fine
    Aug 19 0