TN Visa leaving US back to canada

This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.

Moderator: Mark T Serbinski CA CPA

Post Reply
newperson09
Posts: 10
Joined: Thu May 04, 2017 11:09 am

TN Visa leaving US back to canada

Post by newperson09 » Thu Aug 06, 2020 3:03 pm

401K, Roth (no tax on capital gain)
1. when arriving in Canada, can i still do some transaction of the existing funds(sell & buy)
2. if the answer of number 1 is No, US has a rule on some equation to cease to be NR for tax purposes (assume i leave on dec 31), the following 6 months window period, can i still do the transaction (sell & buy)?


thanks

nelsona
Posts: 16516
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: TN Visa leaving US back to canada

Post by nelsona » Mon Aug 10, 2020 6:23 am

You absolutely MUST check with your individual firm BEFORE leaving to see if their internal rules will allow you to keep your accounts when you move to canada. For example, Vanguard will not, Schwab abd Fidelity will.

You may need to move thr accounts before leaving.

The day you move is the day you become resident of Canada.
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

Post Reply