Serbinski Accounting Firms

[quote="sxc234"]I understand what needs to be done, but what if the account holder doesn't do it. What are the legal consequences to the account holder? [/quote]

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In fact....if the advisor is not licensed you can demand your money back on anything you lost and keep any investment that went up ...

I agree with Nelsona. It was not a good idea to open a joint account in the first case. That being said, your father need only open a new account in his own name and then you both sign a "letter of direction" - just written instructions - requesting the assets be moved from the joint account to his ...

Just to confirm. You can ALWAYS sell your investments, - they cannot stop you from doing that - but some companies do not allow you to re-invest.

As of this moment, TD Ameritrade will allow an existing client that moves to Canada to continue to trade their IRA account if they move to the US ...

NOTE: this applies to TRADING accounts.

RSP accounts are a WHOLE different matter.

I'm afraid the noose is tightening.

Nesbitt Burns has a $CDN "US resident" business and I'm 99% sure they maintain $CDN accounts. However, they offer a limited selection of securities (in my opinion) and I find them a little pricey to execute orders.

RBC Dominion has some advisors that have their ...

Well I think the key question is, how long do you think you are going to be in Canada? If its going to be for some time, then I don't think you need to worry about investing in CDN based funds. I know that you will have to add this info to your US tax return (T5's) but no matter WHAT you invest in ...

Why would the 1099's need changing?

Unless the 1099 has US tax withheld, it isn't sent with the 1040.

Well a client just got a 1099 in the mail that says "Total Ordinary Dividends" - $7,700

BUT a review of the four mutual fund NR4's are

dividends $3,500
Cap Gains $2,900
Return of cap $1,600 ...

Can I just ask for some other peoples experiences.

If you are a US resident but perhaps still have some CDN mutual funds held in a trading account (NON- RSP), what do you do about reporting.

My clients get 1099's from the firm but they have to be sent out BEFORE the mutual fund NR4's are sent ...

xetrade.com looks interesting. Custom house is a credable frim from what i know. Looks good. As always you just have to get a quote from them and see how good it is when compared to the spot market.

i think some people forget or fail to realize that currency is another risk just like "bonds" or ...

Yes BUT, you have to move the account TO them BEFORE you move to Canada. They want a US address to open a new account.

They will let you trade an IRA account after you move BUT for some reason they will not open a NEW account AFTER you have moved to Canada.

Sorry Norbert I noticed after re-reading your post you did seem to recognize the differrance but I wanted to make it a little clearer. i'm afraid I'm unable to edit the post above apparantly.

Well to be technical, this is TD Waterhouse USA maintaining accounts for US residents in $CDN, NOT TD Waterhouse CANADA. EVERYTHING about those accounts, from a regulatory perspective, is "in" the USA.

:-)

A subtle but definately important difference.

Of course, TW Waterhouse USA has now merged ...

If people have some specific questions for me they can PM me. I'd be happy to chat via PM.

Thanks Mark, but I want to keep a low profile. I'm happy to point people in a direction. I've been an advisor for 20 years and have a lot of experience with cross border investment issues. I was licensed in the US for almost 10 years

I work at TD Waterhouse Private Investment Advise but I think ...

Does HSBC have operations in the US. They also do forweign accounts.