I-131 - Intent to Return

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sea323
Posts: 1
Joined: Wed Apr 07, 2021 9:00 pm

I-131 - Intent to Return

Post by sea323 »

Hi All,

I am a Green Card holder, US resident/Canadian Citizen that has filed a I-131 in order to return to Canada for a period of time due to a family emergency/ongoing border closure. I intend to be in Canada for up to 2 years due to this and I would like to buy a home during this time as Toronto is where my family is and low interest rates make is favorable as an investment;

1. will buying a property put me at risk for proving I have intention to return to the US?
- Note that I do not own US property, am single and have no family in the US, so proving ties/intention may be difficult, I am keeping my job and staying with my same employer

2. if I use my RRSP for first time home buyer how will this impact the US taxes when I file next year?

3. if I return to the US after 2 years do I then need to pay back the first time home buyer withdraw immediately vs the 15 year window?
nelsona
Posts: 16947
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: I-131 - Intent to Return

Post by nelsona »

maintaining Green Card while not in US is a difficult IMMIGRATION question, and would best be answered elsewhere. The I-131 gives you *some* protection, but once the CBP determine that you live in canada (regardless of what ties you have in either country), yo uare subject to GC confiscation.
Seek leagl advicee on that.

As to your tax/residency issues.
1. Regardless of whether you buy a property or not, you will be considered tax resident of canada when you return.

2. No. failure to repay HBP will make the withdrawl taxable in US at that time.

3. You would need to repay the entire within 60 days of returning to US. failuyre to do so would make the remaining balance taxable in Canada in that year, and be considered a distribution in US.
I am taking my usual break from this site until May. Always too many tax-form specific questions at this time of year...
nelsona non grata. Non pro. Search previous posts. Happy Browsing :D
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