Hi
I am a canadian working in US california under TN visa. After 3y working, I am considering returning back to Canada.
What preparation do i need to do?
1. do I need to close brokerage account inside 401K? ( I heard some that canadian law prohibit owning brokerage account)
2. Can I still keep my losing stocks in robinhood?
3. Am I still allowed to trade using robinhood?
4. Can I still leave money in US bank accounts?
thanks
brokerage accounts
Moderator: Mark T Serbinski CA CPA
Re: brokerage accounts
1. Only NON-retirement brokerage accounts need to be closed. Your 401(K), IRA accouncts should be fine, but you need to check with the investment form if they will handle you as a Cdn resident. do this before you leave.
2. You should always sell losers before leaving
3. No. you can sell only, and must notify them that you are not resident.
4. Yes.
2. You should always sell losers before leaving
3. No. you can sell only, and must notify them that you are not resident.
4. Yes.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best