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
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor and Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Financial Advisor
Inherited IRAs are very complex. Here, we will discuss what an inherited IRA is, how they differ for spouses and non-spouses, and some rules for distributions. As always, ensure you speak with a qualified tax professional if you are the beneficiary of an IRA, or assisting with the settlement of an estate that involves a U.S. retirement account.
Written by Carson Hamill CIM®, CRPC®, Associate Financial Advisor and Assistant Branch Manager & Dean Moro BComm, CIM®, Associate Financial Advisor
Canadian residents are required to report foreign financial assets to the Canadian Revenue Agency (CRA). Therefore, if you have a U.S. taxable investment account it must be reported to CRA. Due to differences in reporting, accounting for these investments can be very inconvenient and expensive if you continue to hold your investment accounts with a U.S. brokerage firm. In this blog, we will explain the benefits of working with a qualified dual-licensed Canadian financial advisor to streamline the reporting process, minimize costs, and avoid costly issues down the road.