Current SEC regulations prohibit trading an account in the U.S. if you do not live in the U.S.
Prior to moving back to Canada, open an online account with a broker in Canada, and transfer the stocks in kind (without selling them).
You need to be very careful here, since the U.S. does not have deemed disposition rules when aliens depart from the U.S. This means that if you do not sell your stocks while still living in the U.S., you will not pay U.S. capital gains upon departure (or ever).
Your cost base for the stocks in Canada will be their fair market value on the date of your entry to Canada, and accordingly, you will not pay Canadian capital gains tax on the accrued gains either.
Regards,
Mark T. Serbinski, CA, CPA
investment in america!
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It is not entirely clear wether SEC regs would be violated in this case.
However CANADIAN regulatory rules would indeed be violated, since the broker would be accepting by a Cdn resident (specifically a resident a particular province) without THE BROKER having provincial regulatory approval.
This is analogous to the Cdn in US problem: no Cdn securities violation occurs when a US resident trades in a Cdn account; it is SEC and State SEC rules which prohibit this.
It is ALWAYS good prcatice to move ones non-retirement account to the country in which one lives.
<i>nelsona non grata</i>
However CANADIAN regulatory rules would indeed be violated, since the broker would be accepting by a Cdn resident (specifically a resident a particular province) without THE BROKER having provincial regulatory approval.
This is analogous to the Cdn in US problem: no Cdn securities violation occurs when a US resident trades in a Cdn account; it is SEC and State SEC rules which prohibit this.
It is ALWAYS good prcatice to move ones non-retirement account to the country in which one lives.
<i>nelsona non grata</i>