US Citizen residing in Canada - IRA trading solution?
Moderator: Mark T Serbinski CA CPA
[quote="mcmoxley"]Btw, the IRS has extended the deadline for the current OVDI program to Sept. 9, 2011 because of the likely disruptions to be caused by Hurricane Irene.[/quote]
What this forum needs is a good old-fashioned DELETE button for when the original poster puts something in the wrong thread!
What this forum needs is a good old-fashioned DELETE button for when the original poster puts something in the wrong thread!
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- Posts: 31
- Joined: Thu Feb 02, 2012 3:50 pm
vanguard account
mc moxley, i saw your post about your a/c being at vanguard.
pse can you high light some more info bec i am planning to move to canada and all my accounts are with vanguard. that is a problem ??
pse can you high light some more info bec i am planning to move to canada and all my accounts are with vanguard. that is a problem ??
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- Posts: 31
- Joined: Thu Feb 02, 2012 3:50 pm
usc planning to move to canada to retire
mc moxley, i saw your post about your a/c being at vanguard.
pse can you high light some more info bec i am planning to move to canada and all my accounts are with vanguard. that is a problem ??
pse can you high light some more info bec i am planning to move to canada and all my accounts are with vanguard. that is a problem ??
Yes, it is a problem. Vanguard does not allow account-holders who have a Canadian address to add new funds, buy new investments, or switch between investments (which is a sell/buy). Once Vanguard knows you are a Canadian resident, you will only be able to sell your holdings or reinvest dividends/cap gains back into the same holding.
I would recommend switching your accounts to Fidelity before you move. I'm assuming you are in the US. You can open Fidelity accounts, transfer your assets from Vanguard, and then you'll be able to still make trades and add new funds to your Fidelity accounts after the move to Canada.
I would recommend switching your accounts to Fidelity before you move. I'm assuming you are in the US. You can open Fidelity accounts, transfer your assets from Vanguard, and then you'll be able to still make trades and add new funds to your Fidelity accounts after the move to Canada.
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- Posts: 31
- Joined: Thu Feb 02, 2012 3:50 pm
fidelity
mcmoxley, appreciate your insight, yes i am still in us, how about non retirement account, should i move to fidelity too, any restrictions on operating those from canada ?
the problem with moving is i have to sell the existing vanguard funds and the buy fidelity ?
looks like best is to transfer all accounts ira and non ira to fidelity
would you have any issue with communicating with me by email ?
the problem with moving is i have to sell the existing vanguard funds and the buy fidelity ?
looks like best is to transfer all accounts ira and non ira to fidelity
would you have any issue with communicating with me by email ?
As nelsona said, Fidelity is OK with allowing you to transact in retirement accounts from Canada...retirement accounts meaning traditional IRA and/or Roth IRA.
No need to sell Vanguard funds to buy Fidelity when you make the switch. Just make sure you ask Fidelity to perform a "custodian to custodian transfer" of your Vanguard funds. You can certainly hold Vanguard mutual funds in a Fidelity account. I have several Vanguard funds myself in my Fidelity IRA...funds that are good solid funds for which there is no better alternative.
No need to sell Vanguard funds to buy Fidelity when you make the switch. Just make sure you ask Fidelity to perform a "custodian to custodian transfer" of your Vanguard funds. You can certainly hold Vanguard mutual funds in a Fidelity account. I have several Vanguard funds myself in my Fidelity IRA...funds that are good solid funds for which there is no better alternative.
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- Posts: 31
- Joined: Thu Feb 02, 2012 3:50 pm
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- Posts: 31
- Joined: Thu Feb 02, 2012 3:50 pm
I guess I meant to say securites commisions (for each province) not the exchanges.
Because you are using the services of a broker who is not licensed to deal for you in your province. It has nothing to do with WHAT you buy/sell, but rather WHOM you are dealing with.
Because you are using the services of a broker who is not licensed to deal for you in your province. It has nothing to do with WHAT you buy/sell, but rather WHOM you are dealing with.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing