Departure tax deferred collateral

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safgas
Posts: 2
Joined: Wed May 08, 2024 1:20 pm

Departure tax deferred collateral

Post by safgas »

I am an individual, (not a business) with a large departure tax bill. I am working on deferring it while living in the US. My most basic question: Does anyone know which Canadian bank will write a letter of security for CRA and the approximate cost. Ideally, we would like to work with a Canadian Bank that also operates a brokerage in the US. I'm being herded to Private Wealth Management at all the banks approached so far, that generally requires $5M to invest. TD is the best candidate, tho hitting snags here, too.
OceaneEmmerich
Posts: 1
Joined: Mon May 19, 2025 11:11 pm

Re: Departure tax deferred collateral

Post by OceaneEmmerich »

Typically, TD Canada Trust, RBC, BMO, Scotiabank, and CIBC all have the technical capabilities to do this, but only if you meet their requirements.
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