Blog List


• Moving to Canada With a Health Savings Account (HSA) - What You Need To Know
• Qualifying for Both Social Security and CPP - What You Need to Know
• What happens to an RRSP when a client relocates to the U.S.?
• Choosing A U.S. Resident as Your Executor Requires Caution
• A Guide to Rolling Your 403b into an IRA
• Discounted Bonds vs. GICs: Maximizing After-Tax Returns
• Reasons to Consider transferring your 401k to a Rollover IRA
• Social Security, CPP and OAS: What Happens When You Have Worked on Both Sides of the Border
• Cross-Border Wealth Management: Five Things To Know Before Moving From Canada to the U.S.
• Moving from Canada to the United States with Canadian Investment Accounts
• Comprehensive Reporting and Investment Expertise for Americans in Canada
• The Raymond James Advantage – Comprehensive Tax Reporting for U.S. Persons Residing in Canada
• Understanding Gift Tax: Your Obligations and When it Applies
• Consolidating Your TIAA Account
• Inheriting a Roth IRA: What You Need to Know
• The Thrift Savings Plan (TSP)
• The Top 5 Reasons to Keep Your IRA Instead of Transferring to an RRSP
• 60(j) Transfer: Should You Transfer Your U.S. Qualified Plan to an RRSP?
• What to Do as a U.S. Individual Inheriting Canadian Dollars
• The Implications of Using a U.S. Address on Investment Accounts When Moving Abroad
• Are you considered a Covered or Uncovered Expatriate?
• Required Minimum Distributions: FAQ
• Crossing Borders and Maximizing Investments: Navigating Your Finances
• Employee Stock Ownership Plan (ESOP): What you need to Know
• Restricted Stock Units (RSUs): A Comprehensive Guide
• FBAR (Foreign Bank Account Report): Top things to know about FBAR
• Why incorporated Business Owners should consider an Individual Pension Plan (IPP)
• BACKDOOR ROTH IRA – What Is It & When Does It Make Sense
• California Residents: Your Canadian retirement savings accounts DO NOT Grow Tax Free
• Understanding Inherited IRAs
• What To Do With Your U.S. Taxable Investment Accounts When You Become A Canadian Resident
• Why You Should Work with A Cross Border Financial Adviser
• Roth IRA: Moving To Canada with your Roth IRA
• Mistakes to Avoid When Moving to Canada
• U.S. Person Buying a Home in Canada
• Passive Foreign Investment Company (PFIC) and Why You Should Avoid Them
• 401(k) to IRA Rollover

What happens to an RRSP when a client relocates to the US
03.28.2024 // Cross Border

Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Sonya Dolguina CPA, CPA (IL)

Carson and Sonya were featured in The Globe and Mail to write an article about how, if a Canadian tax resident ceases residency and relocates to the U.S., retaining their Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF), a clear understanding of tax rules in both countries is required. CLICK HERE to visit The Globe and Mail website and read.

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Choosing A U.S. Resident as Your Executor Requires Caution
03.12.2024 // Cross Border

Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor & Assistant Branch Manager & Dean Moro BComm, CIM®, Financial Advisor & Associate Portfolio Manager

In the domain of estate planning, the choice of an executor and trustee stands as a crucial decision, directly influencing the smooth transfer of wealth to the next generation. However, the growing global nature of Canadian families, driven by career aspirations and lifestyle preferences, introduces an added layer of complexity to this process. Specifically, if your selected executor resides in a foreign jurisdiction such as the United States, a range of issues may emerge, including tax implications, administrative hurdles, and portfolio management considerations.

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Social Security, CPP and OAS: What Happens When You Have Worked on Both Sides of the Border
12.27.2023 // Cross Border

Individuals who have worked and contributed into social security in both Canada and the U.S. can generally collect retirement benefits from both countries. The Canada-U.S. Totalization Agreement helps individuals qualify for benefits.

Canadians and Americans can benefit from the Canada-U.S. Totalization Agreement, which is a treaty that prevents double social security taxation and protects benefits for people who have worked in both countries. The agreement covers the U.S. Social Security program as well as Canada’s Old Age Security (OAS) program and the Canada Pension Plan (CPP). An understanding has been established with Quebec to extend the agreement to apply to the Quebec Pension Plan (QPP) as well.

You may have social security credits in both the United States and Canada but not have sufficient credits to be eligible for benefits in one country or the other. The agreement between the United States and Canada may help you qualify for social security benefits in one or both countries that you would not have been eligible for without the agreement. Retirees living in Canada may be eligible for the following government social security programs.

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