What to do with Canadian Savings Acct living in US on TN?
Moderator: Mark T Serbinski CA CPA
What to do with Canadian Savings Acct living in US on TN?
We have about 60k in CDN funds sitting in a savings account in Canada. Both of us are Non-residents living in US on TN and TD. We would just bring the money over but the exchange rate is poor right now. But, the idea of money just sitting there making no interest doesn't seem right. What should Non-residents of Canada be doing with our CDN money?
Re: What to do with Canadian Savings Acct living in US on TN?
The first question is why is it "making no interest"? Interest rates are relatively high right now.
Second, exchange rates don't really matter in your case. Is the CDn dollar going to go up? Who knows.
Bring the money to US, and invest it in your house, your Roth, whatever.
Second, exchange rates don't really matter in your case. Is the CDn dollar going to go up? Who knows.
Bring the money to US, and invest it in your house, your Roth, whatever.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best