Hi,
I searched through the forum but didn't get a good thread or clear answer discussing this topic. Due to economic reasons lots of Canadian professionals are working in USA on TN visa, with intention to go back to Canada after few years.
I moved to Michigan end of last year on TN. I'm keeping my US savings in Bank savings deposits without any interests. I wanted open an Online investment account with Merrill Edge, but they told me unable to do that if not US citizen or permanent residents. I'm looking for an advice on investment options keeping following constraints in mind -
1. Canadian Citizen and US temporary resident on TN. i'e in 2016 I will file 1040 jointly.
2. Online self directed investment is better. If not, an investment firm with low fees that allows to trade stocks and mutual funds.
3. Funds/stocks should be transferable to Canada once I move back to Canada. If not any advice on what and how to sell before moving will be good.
Thanks a lot for the help !
Investmenting in US by Canadian Citizen working in US on TN
Moderator: Mark T Serbinski CA CPA
I have never had any problem opening an online investment account while on TN or H1-B.
Don't say you are temporarily in US.
I have given strategies for selling winners and losers many times in the past.
Don't say you are temporarily in US.
I have given strategies for selling winners and losers many times in the past.
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
While filling the online application form I have to select either a US permanent resident or Citizen. If I don;t anyone, I can't go to next step. Then I called the Merrill Edge and they told me that if I'm not PR or Citizen, I can't open an account. Is there a good online broker you can advice ?
I saw a buying and selling advice thread and that was helpful, thanks.
Is there another broker than TD Ameitrade who will allow transfer my investments to Canadian broker such as Questrade or TD waterhouse etc. once I'm back ?
I saw a buying and selling advice thread and that was helpful, thanks.
Is there another broker than TD Ameitrade who will allow transfer my investments to Canadian broker such as Questrade or TD waterhouse etc. once I'm back ?
All Cdn brokers will accept to transfer your US assets to them. Why would they not, once you are living in Canada? They don't turn away business.
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
As to Merrill edgem I guess you will need to take your business elsewhere, or speak to a broker to open the account, and then do online trades.
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