How do I transfer US investments to Canada w/out losing it all to taxes?

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John-Anthony L asked:


My US investments have rebounded but I’m living in Canada and would like to “cash out”. Anyone have experience with cross-border tranfers etc?

BARTON
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This entry was posted on Sunday, November 22nd, 2009 at 12:09 am and is filed under Canada. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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One Response to “How do I transfer US investments to Canada w/out losing it all to taxes?”

  1. RODOLFO Says:
    November 23rd, 2009 at 3:32 pm

    CARMINE

    If you don’t cash it out, but transfer the investments themselves (i.e. stocks, bonds, mutual funds) from one brokerage firm to another, there is no disposition, and therefore no tax.

    You will have to file a form (or the brokerage firm will for you) to declare a cross-border transaction valued at more than $10,000.

    Other than than, it’s pretty simple. “Pushing” (giving your new account information to the old account institution and requesting the transfer directly from them) is easier than “pulling” (asking the new account institution to request the transfer from the old institution).

    Oh, and it’s a bit nerve-wracking, as you lose control of the investments (i.e. can’t sell them) while the transfer process is ongoing, which can take over a month!… But none of us panic-sell anyway, right? ;)