US Brokerages

[Badger]

I am recently a resident of Canada (ontario) and have a US 401k.

Will I still be able to deal with TD Waterhouse given my change of residency or will the account literally be frozen? I dont anticipate assuming US residency. Am I better off cashing this in and repatriating the funds? What penalty would apply to me if I do so?

Thanks

[Mark T Serbinski CA CPA]

Current SEC rules permit you to continue an existing relationship with a broker but only in respect of your pension account.

However, if you find yourself in the U.S. from time to time, you may visit the office of your broker to make trades. The broker must execute your trades based on orders provided to them in their offices.

[Tonthony]

Hello:

There are a few Canadian-based brokerage firms with US subsidiaries that can legally deal with these orphaned accounts. You can contact me for more information.

Anthony