Search found 6 matches

by yeezy_szn
Thu Feb 24, 2022 1:28 pm
Forum: Canada / United States Tax & Accounting
Topic: Withdrawing from TFSA as Non-Resident in US & Canada
Replies: 14
Views: 21974

Re: Withdrawing from TFSA as Non-Resident in US & Canada

nelsona wrote:
> You are still a Cdn tax resident.

I think that would make things easier like you said but I don't think I understand why I'd be a CDN tax resident since I don't have primary ties to Canada (home, spouse etc.). Is it because I still have secondary ties? (passport, bank accounts)

I ...
by yeezy_szn
Wed Feb 23, 2022 11:05 pm
Forum: Canada / United States Tax & Accounting
Topic: Withdrawing from TFSA as Non-Resident in US & Canada
Replies: 14
Views: 21974

Re: Withdrawing from TFSA as Non-Resident in US & Canada

ND wrote:
> RE 'to submit the W9, but I'm wondering what are the implications of this?'
> Providing a W-9 to Cdn bank will submit you to FATCA and 8938 reporting
> requirements as your bank will share that info with IRS.

Yeah that's what I figured. But I believe I am exempt from FATCA and 8938 ...
by yeezy_szn
Wed Feb 23, 2022 11:03 pm
Forum: Canada / United States Tax & Accounting
Topic: Withdrawing from TFSA as Non-Resident in US & Canada
Replies: 14
Views: 21974

Re: Withdrawing from TFSA as Non-Resident in US & Canada

nelsona wrote:
> Btw, I've never heard of ANY withholding tax on a TFSA withdrawal, neither
> for a CDn resident, a US resident, or a resident of any other country.
>
> ASk them to show you what part of the tax act they are misinterpreting to
> come up with this.

Yeah I'm not sure what they are on ...
by yeezy_szn
Wed Feb 23, 2022 11:02 pm
Forum: Canada / United States Tax & Accounting
Topic: Withdrawing from TFSA as Non-Resident in US & Canada
Replies: 14
Views: 21974

Re: Withdrawing from TFSA as Non-Resident in US & Canada

nelsona wrote:
> Technically, you are still resident of Canada, since you are not able to
> claim US residency on F1 for a few years. This is GOOD for you, so insist
> that youa re Cdn with all financial aspects if it suits you.
>
> This will also solve the cap gains issue.

I see what you mean ...
by yeezy_szn
Wed Feb 23, 2022 2:43 pm
Forum: Canada / United States Tax & Accounting
Topic: Withdrawing from TFSA as Non-Resident in US & Canada
Replies: 14
Views: 21974

Withdrawing from TFSA as Non-Resident in US & Canada

Similar to this question viewtopic.php?f=2&t=472339&sid=4a0ce02f ... a188ec0722, I am a Canadian citizen living and working in the US. I left Canada in 2019 and am currently working in US as a non-resident under a F1 visa. I'm technically a non-resident in both countries I believe - for the US, I'm ...
by yeezy_szn
Wed Feb 23, 2022 2:14 pm
Forum: Canada / United States Tax & Accounting
Topic: Withdrawing from TFSA as Non-Resident in US & Canada
Replies: 0
Views: 80981

Withdrawing from TFSA as Non-Resident in US & Canada

Similar to this question https://forums.serbinski.com/viewtopic.php?f=2&t=472339&sid=4a0ce02fff89d785155559a188ec0722, I am a Canadian citizen living and working in the US. I left Canada in 2019 and am currently working in US as a non-resident under a F1 visa. I'm technically a non-resident in both ...