Bridging the Border to Your Financial Future
Before You Move to Canada
Whether you are a Canadian returning to Canada to live permanently or a U.S. citizen being transferred to Canada for employment you will need a plan in place to help you manage the myriad of tasks required and to ensure you get the best return for your time, effort and expenses. Contrary to common perception planning for a move north across the U.S. - Canadian border is not necessarily the reverse of a move south. Some of the broader issues are similar, but the procedures and solutions often differ.
Common concerns are:
- Should I consider giving up my U.S. citizenship or green card?
- What are the tax implications of keeping my investments in the U.S.?
- How will my U.S. investments be taxed in Canada?
- What strategies should I employ regarding the liquidation of any U.S. investments?
- Will I still be eligible for U.S. Social Security? How will these benefits be taxed?
- How will my U.S. pension benefits, stock options, or deferred compensation arrangement be affected by my move?
- Would it be advantageous for me to set up a pre-entry trust before leaving the U.S.?
- What forms do I need to file with the IRS prior to departure?
Immigration, Cash Management, Insurance, Retirement Planning, Investment and Estate Planning issues all need to be addressed in a good cross-border plan. KCA has been helping clients to do this successfully since 1987.
After You Move
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