Advice for moving to US: TFSA, RRSP, Real Estate, Crypto

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
ElrinV
Posts: 3
Joined: Thu Feb 29, 2024 9:17 pm

Advice for moving to US: TFSA, RRSP, Real Estate, Crypto

Post by ElrinV »

Hi All,

I am hoping to get some advice on the best path forward with my retirement savings. I'll be relocating later this month to the US to work on a TN visa and have not had the chance (due to tax season) to talk to a tax accountant yet...

I have a decent amount of RRSP investments (self directed at iTrade, and in funds with a broker), Maxed out TFSAs mostly in iTrade holding some non-dividend Canadian ETFs, some non-registered investments at iTrade and a property where the primary residence exemption only covers some of the property, and also some cryptocurrencies.

Before I leave, should I sell any of these?
- RRSPs?
- TFSAs?
- Non-registered investments?
- Crypto?

The property will sell likely a bit later (after we leave), so I'm not sure how that will affect things either.

My wife will also join me on a TD visa - is there anything different she should be doing due to not working in the USA?

Thank you!
ElrinV
Posts: 3
Joined: Thu Feb 29, 2024 9:17 pm

Re: Advice for moving to US: TFSA, RRSP, Real Estate, Crypto

Post by ElrinV »

Update:

Moved to the USA, and sold all my TFSAs and non-registered investments as I crossed the border. I kept my RRSPs and crypto intact.

I'm now starting to get ready for that huge tax filing on both sides of the border.

Does anyone know about deferral of tax due to disposition? I'd prefer to not sell a bunch of investments just to cover the tax bill due to their (deemed, not real) capital gains.

Thanks!
ElrinV
Posts: 3
Joined: Thu Feb 29, 2024 9:17 pm

Re: Advice for moving to US: TFSA, RRSP, Real Estate, Crypto

Post by ElrinV »

Update:

Moved to the USA, and sold all my TFSAs and non-registered investments as I crossed the border. I kept my RRSPs and crypto intact.

I'm now starting to get ready for that huge tax filing on both sides of the border.

Does anyone know about deferral of tax due to disposition? I'd prefer to not sell a bunch of investments just to cover the tax bill due to their (deemed, not real) capital gains.

Thanks!
Post Reply