[et_pb_section fb_built=”1″ admin_label=”About” _builder_version=”4.27.7″ background_enable_pattern_style=”on” background_pattern_style=”ogees” background_pattern_color=”rgba(0,0,0,0.01)” custom_padding=”||2px|||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ custom_padding=”||16px|||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.27.8″ text_font=”Darker Grotesque|600|||||||” text_text_color=”#283444″ text_font_size=”22px” ul_line_height=”1.5em” header_2_font=”Darker Grotesque|900|||||||” header_2_text_color=”#05619b” header_2_font_size=”40px” header_3_text_color=”#38b349″ custom_margin=”||0px|||” hover_enabled=”0″ text_font_size_tablet=”22px” text_font_size_phone=”18px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”42px” header_2_font_size_phone=”30px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
Moving from the United States to Canada changes more than a mailing address. The move generally starts Canadian tax residency, brings U.S. accounts and investments into the Canadian reporting system, and layers new provincial filing obligations on top of continuing U.S. obligations.<\/p>\n
Canada generally taxes residents on worldwide income once Canadian tax residency begins. The United States generally taxes U.S. citizens and green card holders on worldwide income regardless of where they live, under citizenship-based taxation. A move to Canada does not end this U.S. filing obligation, and the Canada-U.S. Tax Treaty’s saving clause preserves the United States’ right to tax its own citizens largely as if the treaty did not exist. In a move year, the domestic rules of both countries apply at the same time rather than one replacing the other.<\/p>\n
A coordinated pre-move review should address Canadian residency start, U.S. retirement and education accounts, Canadian-resident investment restrictions, U.S. information reporting, U.S. real estate and business interests, and destination-province tax. Planning before Canadian residency begins often provides more options than restructuring after the move.<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.27.8″ text_font=”Darker Grotesque|600|||||||” text_text_color=”#283444″ text_font_size=”22px” ul_line_height=”1.5em” header_2_font=”Darker Grotesque|900|||||||” header_2_text_color=”#05619b” header_2_font_size=”40px” header_3_text_color=”#38b349″ background_color=”#e0e0e0″ custom_padding=”13px|24px||24px|false|false” hover_enabled=”0″ text_font_size_tablet=”22px” text_font_size_phone=”18px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”42px” header_2_font_size_phone=”30px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.27.8″ text_font=”Darker Grotesque|600|||||||” text_text_color=”#283444″ text_font_size=”22px” ul_line_height=”1.5em” header_2_font=”Darker Grotesque|900|||||||” header_2_text_color=”#05619b” header_2_font_size=”32px” header_3_text_color=”#38b349″ custom_margin=”||0px|||” hover_enabled=”0″ text_font_size_tablet=”22px” text_font_size_phone=”18px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”42px” header_2_font_size_phone=”30px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
Canadian tax residency depends on the facts, particularly residential ties. Moving to Canada does not automatically start Canadian residency on a fixed date chosen by the taxpayer. Significant ties such as a dwelling place in Canada, a spouse or common-law partner and dependants who relocate to Canada are important, while secondary ties are considered collectively.<\/p>\n
For most newcomers, Canadian residency begins on the date they establish sufficient residential ties to Canada, which is often the date of arrival to settle rather than a later date. This date is reported on the first Canadian return, generally as a part-year resident.<\/p>\n
Planning point: <\/b><\/strong>Canadian residency should be determined before calculating the deemed acquisition cost base or deciding how pre-move and post-move income will be reported.<\/p>\n When an individual becomes a Canadian resident, subsection 128.1(1) of the Income Tax Act generally deems most capital property the individual owns to have been disposed of and immediately reacquired at fair market value. This establishes a new, stepped-up cost base for Canadian tax purposes only; it does not change the taxpayer’s U.S. basis.<\/p>\n The effect is favourable: Canada generally does not tax gains that accrued before the individual became a Canadian resident. Only gains accruing after the Canadian residency start date are subject to Canadian tax on a later disposition. Taxable Canadian property and certain other exclusions apply, and shares of private corporations require careful fair-market-value documentation.<\/p>\n Cost-base distinction: <\/b><\/strong>The reset is Canadian tax cost base only. U.S. basis, U.S. gain calculations and U.S. tax on a later sale are unaffected, so the same asset can have two different cost bases going forward.<\/p>\n A U.S. citizen or green card holder does not stop being a U.S. taxpayer by moving to Canada. Citizenship-based taxation means worldwide income, including Canadian-source income and Canadian investment growth, generally continues to be reportable on a U.S. return. Article IV’s tie-breaker rules resolve dual tax residency for many purposes, but the treaty’s saving clause preserves the United States’ right to tax its citizens largely as if the treaty did not apply.<\/p>\n A green card holder who moves to Canada generally remains a U.S. tax resident unless the green card is formally abandoned or administratively revoked. A long-term resident, defined as a green card holder for at least eight of the last fifteen tax years, who gives up that status may become a covered expatriate and face the section 877A mark-to-market exit tax if net worth is $2 million or more, average annual U.S. tax liability exceeds the indexed threshold, or five years of U.S. tax compliance cannot be certified. This is separate from, and much larger in scope than, Canada’s deemed acquisition rule.<\/p>\n Key distinction: <\/b><\/strong>A move to Canada by a U.S. citizen does not by itself trigger a U.S. exit tax. Exit tax exposure arises only on a formal expatriating event: renouncing citizenship, or a long-term green card holder giving up status.<\/p>\n A U.S. citizen or green card holder who becomes a Canadian resident generally continues to hold 401(k) and traditional IRA accounts without an immediate Canadian tax event. Article XVIII of the Canada-U.S. Tax Treaty allows continued deferral of Canadian tax on undistributed income accruing in these accounts, and no annual treaty election is generally required for a traditional IRA or 401(k).<\/p>\n These accounts cannot be rolled directly into a Canadian RRSP; there is no equivalent transfer mechanism. Required minimum distribution rules and U.S. withholding on payments to a Canadian resident should be reviewed separately from the Canadian tax treatment.<\/p>\n Canada does not automatically treat Roth IRA growth as tax-free. Without a treaty election, the CRA’s stated position is that income accruing in a Roth IRA is taxable in Canada annually. A Canadian resident who owns a Roth IRA should file a one-time election under Article XVIII(7) with the Competent Authority of Canada, generally by the filing deadline for the first Canadian return affected, to defer Canadian tax on the account’s accrued income.<\/p>\n A contribution made to the Roth IRA while Canadian resident, other than certain qualifying rollovers, is treated by the CRA as a Canadian contribution that splits the account: the pre-contribution balance generally keeps its treaty-protected status, while the contribution and later growth on it generally lose that protection. A Roth 401(k) is generally treated under the Income Tax Act as part of an employee benefit plan not taxed until distribution, which the CRA has indicated makes a separate Article XVIII(7) election unnecessary for typical plans, but the underlying facts should still be reviewed.<\/p>\n Planning point: <\/b><\/strong>File the Article XVIII(7) election on time and avoid contributing to a Roth account after becoming a Canadian resident. A missed election or a post-move contribution can convert years of U.S. tax-free growth into fully taxable Canadian investment income.<\/p>\n Health Savings Accounts have no Canadian equivalent and no specific treaty relief. Canada generally does not recognize the U.S. tax-favoured status of an HSA. Contributions, investment growth and withdrawals inside an HSA may be treated differently for Canadian tax purposes than for U.S. tax purposes, and the account should be reviewed before the move rather than assumed to carry its U.S. tax treatment into Canada.<\/p>\n A 529 plan retained after the move to Canada requires the same kind of pre-move attention as an RESP does for a Canadian moving to the United States. Its U.S. tax advantages do not automatically apply once the account is held by a Canadian resident, and Canada may tax investment growth inside the plan differently than the U.S. does.<\/p>\n Depending on how the plan is structured, additional Canadian reporting or classification issues may also need review. The underlying investments held inside the 529 plan should be examined separately from the account’s label.<\/p>\n Because a U.S. citizen or green card holder remains a U.S. taxpayer after the move, the passive foreign investment company rules continue to matter, and in some respects matter more. A Canadian mutual fund or Canadian-domiciled exchange-traded fund is generally a foreign corporation for U.S. purposes and can trigger PFIC classification, potential Form 8621 reporting and unfavourable U.S. tax calculations.<\/p>\n For this reason, U.S. citizens and green card holders living in Canada are often advised to hold U.S.-domiciled funds in a taxable account rather than Canadian mutual funds or Canadian-listed ETFs, and to review any existing U.S. brokerage holdings for Canadian tax treatment as well. The account label, whether Canadian or American, matters less than the legal structure of each underlying investment.<\/p>\n Pre-move opportunity: <\/b><\/strong>Review non-registered investment holdings on both sides of the border before the Canadian residency start date. Waiting until the first Canadian or U.S. return is filed may leave fewer planning choices.<\/p>\n Moving to Canada does not end FBAR or Form 8938 obligations for a U.S. citizen or green card holder. The FBAR generally applies when the aggregate maximum value of foreign financial accounts, which now includes Canadian bank, brokerage, RRSP, RRIF and TFSA accounts, exceeds US$10,000 at any time during the calendar year.<\/p>\n Form 8938 is a separate FATCA reporting regime for specified foreign financial assets, with thresholds that vary by filing status and by whether the taxpayer qualifies as living abroad. Form 8938 does not replace the FBAR, and both generally apply for the first time to accounts that only became foreign once the individual moved to Canada.<\/p>\n Canadian bank, brokerage and registered accounts should be inventoried as part of the move. Maximum values, ownership and signature authority should be documented from the Canadian residency start date.<\/p>\n A U.S. citizen or green card holder who becomes eligible to open an RRSP after establishing Canadian residency and Canadian earned income should understand that the RRSP itself is specifically exempted from Form 3520 and Form 3520-A foreign trust reporting, and its growth is generally tax-deferred for U.S. purposes as well as Canadian purposes.<\/p>\n A TFSA does not carry the same relief. It is a Canadian tax-free account, but the United States does not recognize that exemption, and growth inside a TFSA is generally taxable on a U.S. return. Whether a TFSA additionally requires foreign trust information reporting is a fact-specific and unsettled question that should be reviewed with a cross-border adviser before the account is opened or funded, rather than assumed to be either required or unnecessary.<\/p>\n Planning point: <\/b><\/strong>Separate the analysis of any Canadian registered account into Canadian tax treatment, U.S. income tax treatment, and U.S. information-reporting treatment. The three do not automatically move together.<\/p>\n A U.S. citizen who owns shares of a U.S. corporation and becomes a Canadian resident should obtain cross-border advice before relying on prior U.S. tax planning. Canadian attribution, foreign accrual property income, and Canadian reporting for foreign affiliates may become relevant, in addition to the U.S. controlled foreign corporation and passive foreign investment company rules that already applied.<\/p>\n Where the individual continues to manage the U.S. business from Canada, Canadian tax residency of the corporation itself, Canadian withholding on compensation, and the corporation’s own cross-border activities should be reviewed together with the shareholder’s personal move.<\/p>\n U.S. partnerships, trusts and other entities may create additional Canadian information-reporting obligations. U.S. tax classification should not be assumed to carry over unchanged to Canada.<\/p>\n A U.S. citizen who keeps U.S. rental real estate after becoming a Canadian resident continues to report the rental activity on a U.S. return, since citizenship-based taxation already reaches worldwide income. Once Canadian residency begins, the same rental activity generally also enters the Canadian worldwide-income calculation.<\/p>\n Canadian and U.S. depreciation systems differ, so separate capital cost allowance and depreciation schedules should be maintained. Currency conversion between U.S. dollars and Canadian dollars, and the Canadian foreign tax credit for U.S. tax paid on the same rental income, should be coordinated rather than calculated independently.<\/p>\n A former U.S. principal residence does not automatically retain its U.S. capital-gain exclusion treatment once the owner has moved out and become a Canadian resident; the U.S. exclusion under section 121 generally depends on ownership and use tests measured before the sale. The Canadian deemed acquisition rule separately resets the Canadian cost base of the home to its fair market value on the date Canadian residency begins, for Canadian tax purposes only.<\/p>\n If the home is sold after the individual becomes a Canadian resident, both a U.S. capital gain calculation and a Canadian capital gain calculation, using two different cost bases, may be required, with Canadian foreign tax credit relief for U.S. tax paid on the same disposition.<\/p>\n After Canadian residency begins, U.S.-source income generally remains taxable in the United States under nonresident alien withholding rules for a non-citizen, while a U.S. citizen or green card holder continues to be taxed on it as a U.S. resident regardless of where they live. Examples include U.S. dividends, U.S. rental income, U.S. pensions and certain U.S. employment or business income.<\/p>\n Financial institutions and payers should be informed of the Canadian residency change so that correct withholding certificates and reporting procedures are applied, and so that Canadian reporting of the same income is not overlooked.<\/p>\n The year of the move generally involves a part-year Canadian resident return reporting worldwide income from the Canadian residency start date forward, prepared alongside a continuing full-year U.S. return that a citizen or green card holder must file regardless of residency.<\/p>\n U.S. tax paid on income also reported in Canada may qualify for a Canadian foreign tax credit, subject to Canadian limitations, and the reverse may apply for Canadian tax paid on income also taxable in the United States, subject to U.S. foreign tax credit limitations. The Canada-U.S. Tax Treaty contains additional rules intended to coordinate taxation between the two countries.<\/p>\n Planning point: <\/b><\/strong>The first Canadian return and the ongoing U.S. return should be prepared as one cross-border project rather than unrelated filings.<\/p>\n Ending U.S. federal tax residency status is not possible for a citizen, but the departure state’s tax residency is a separate question that can often be resolved. Each state applies its own residency, domicile and statutory-residency rules, and some states, including California, New York and Virginia, apply particularly demanding domicile tests that can continue to treat a former resident as taxable after the move to Canada.<\/p>\n State treatment of foreign income, retirement accounts and treaty positions may differ from the federal result. The departure state should be part of the pre-move analysis, with affirmative steps taken to sever domicile where the state’s test requires it.<\/p>\n A California resident accepts a permanent position in Ontario and moves with the family. Before departure, the individual should confirm the Canadian residency-start facts, review U.S. non-registered investments for PFIC exposure once in Canada, evaluate 401(k) and IRA treatment under Article XVIII, and determine whether California’s domicile rules will continue to apply after the move. Continuing U.S. federal filing is certain; the California question is not.<\/p>\n A U.S. business owner moves to Canada but continues to own and manage a U.S. corporation. The personal residency analysis is only the first step. The shareholder should also review Canadian foreign accrual property income exposure, compensation, distributions, corporate management location, and possible Canadian business presence for the corporation itself.<\/p>\n A family moves permanently to Canada while keeping a 401(k), a Roth IRA and a former U.S. principal residence. Each asset has a different cross-border profile. The 401(k) generally continues on a tax-deferred basis without an election, the Roth IRA requires a timely Article XVIII(7) election and no further contributions, and the U.S. home remains relevant to both U.S. and Canadian tax when rented or sold.<\/p>\n \u2610 \u00a0Establish the expected Canadian residency-start date and document residential ties.<\/p>\n \u2610 \u00a0Prepare an inventory of investments and property with U.S. basis and fair market value at the move date.<\/p>\n \u2610 \u00a0Confirm which property will receive a Canadian deemed acquisition cost-base reset.<\/p>\n \u2610 \u00a0Confirm U.S. citizenship or green card status and the resulting continuing U.S. filing obligation.<\/p>\n \u2610 \u00a0Review 401(k), traditional IRA and Roth IRA or Roth 401(k) treatment under Article XVIII.<\/p>\n \u2610 \u00a0File the Article XVIII(7) Roth IRA election, if applicable, and stop further Roth contributions.<\/p>\n \u2610 \u00a0Review HSA and 529 plan treatment before the move.<\/p>\n \u2610 \u00a0Review U.S. mutual funds, Canadian funds and other investments for PFIC and Canadian classification.<\/p>\n \u2610 \u00a0Inventory U.S. and Canadian financial accounts for FBAR and Form 8938 analysis.<\/p>\n \u2610 \u00a0Review U.S. corporations, partnerships, trusts and private-company holdings.<\/p>\n \u2610 \u00a0Plan for U.S. rental property and other U.S.-source income.<\/p>\n \u2610 \u00a0Review principal-residence and other U.S. real-estate issues under both countries’ rules.<\/p>\n \u2610 \u00a0Identify whether the departure state’s residency and income-tax rules will continue to apply.<\/p>\n \u2610 \u00a0Coordinate the first Canadian return with the ongoing U.S. income tax return.<\/p>\n \u2610 \u00a0Keep records of account values, cost basis, fair market values, exchange rates and move dates.<\/p>\n No, not for a U.S. citizen or green card holder. Citizenship-based taxation means worldwide income continues to be reportable in the United States regardless of Canadian residency.<\/p>\n No. The section 877A exit tax applies only to an actual expatriating event, such as renouncing citizenship or a long-term green card holder formally giving up status. A move alone does not trigger it.<\/p>\n Generally not on the reset itself. Becoming a Canadian resident generally resets the Canadian cost base of most property to fair market value, so only gains accruing after arrival are subject to Canadian tax on a later sale.<\/p>\n Not generally. Article XVIII of the treaty generally allows continued Canadian tax deferral, though a Roth IRA requires a timely election and no post-move contributions to keep that treatment.<\/p>\n No. The TFSA’s Canadian tax exemption does not apply under U.S. tax law, and its U.S. income-tax and information-reporting treatment should be reviewed before the account is opened.<\/p>\n Likely yes, once the accounts exist and cross the applicable thresholds. FBAR and Form 8938 are separate regimes with different thresholds and definitions.<\/p>\n The rental activity continues to be reportable in the United States, and generally also becomes reportable in Canada once Canadian residency begins, with foreign tax credit relief for tax paid to the other country.<\/p>\n It depends on the state. Some states apply demanding domicile tests that can continue taxation after a move to Canada, so the state analysis should be done separately from the federal analysis.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”About” _builder_version=”4.27.7″ custom_padding=”2px||2px|||” global_colors_info=”{}”][et_pb_row _builder_version=”4.27.7″ background_enable_color=”off” custom_margin=”-4px|auto||auto||” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.27.8″ text_font=”Darker Grotesque|600|||||||” text_text_color=”#000000″ text_font_size=”22px” text_line_height=”1.4em” ul_line_height=”1.5em” header_text_color=”#000000″ header_2_font=”Darker Grotesque|900|||||||” header_2_text_color=”#000000″ header_2_font_size=”40px” header_3_font=”|800|on||||||” header_3_text_color=”#000000″ header_3_font_size=”32px” header_4_font=”|700|||||||” header_4_text_color=”#000000″ header_4_font_size=”22px” background_color=”#ededed” custom_padding=”10px|14px|8px|18px|false|false” text_font_size_tablet=”22px” text_font_size_phone=”18px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”42px” header_2_font_size_phone=”30px” header_2_font_size_last_edited=”on|phone” box_shadow_style=”preset1″ global_colors_info=”{}”]<\/p>\n This article provides general information only and does not constitute tax, legal, investment, immigration or financial advice. Cross-border moves depend on citizenship and immigration status, residency facts, asset ownership, family circumstances, the departure state, treaty eligibility and the laws in effect at the relevant time. Professional advice should be obtained before implementing a move or restructuring assets.<\/i><\/em><\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.27.8″ text_font=”Darker Grotesque|600|||||||” text_text_color=”#283444″ text_font_size=”22px” ul_line_height=”1.5em” header_2_font=”Darker Grotesque|900|||||||” header_2_text_color=”#05619b” header_2_font_size=”40px” header_3_text_color=”#38b349″ custom_margin=”||0px|||” hover_enabled=”0″ text_font_size_tablet=”22px” text_font_size_phone=”18px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”42px” header_2_font_size_phone=”30px” header_2_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/international-non-residents\/individuals-leaving-entering-canada-non-residents\/newcomers-canada-immigrants.html<\/i><\/em><\/p>\n https:\/\/laws-lois.justice.gc.ca\/eng\/acts\/I-3.3\/section-128.1.html<\/i><\/em><\/p>\n https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/technical-information\/income-tax\/income-tax-folios-index\/series-5-international-residency\/folio-3-cross-border-issues\/income-tax-folio-s5-f3-c1-taxation-roth-ira.html<\/i><\/em><\/p>\n https:\/\/www.canada.ca\/en\/department-finance\/programs\/tax-policy\/tax-treaties.html<\/i><\/em><\/p>\n https:\/\/www.irs.gov\/businesses\/international-businesses\/foreign-trust-reporting-requirements-and-tax-consequences<\/i><\/em><\/p>\n https:\/\/www.irs.gov\/businesses\/corporations\/comparison-of-form-8938-and-fbar-requirements<\/i><\/em><\/p>\n https:\/\/www.irs.gov\/individuals\/international-taxpayers\/expatriation-tax<\/i><\/em><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. Residents Moving to Canada A Cross-Border Tax Guide Executive Summary Moving from the United States to Canada changes more than a mailing address. The move generally starts Canadian tax residency, brings U.S. accounts and investments into the Canadian reporting system, and layers new provincial filing obligations on top of continuing U.S. obligations. Canada generally […]<\/p>\n","protected":false},"author":1,"featured_media":5953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"2880","footnotes":""},"categories":[43],"tags":[],"class_list":["post-5952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-llc"],"_links":{"self":[{"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/posts\/5952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/comments?post=5952"}],"version-history":[{"count":3,"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/posts\/5952\/revisions"}],"predecessor-version":[{"id":5958,"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/posts\/5952\/revisions\/5958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/media\/5953"}],"wp:attachment":[{"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/media?parent=5952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/categories?post=5952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mytesting123.com\/taxsquarepc\/wp-json\/wp\/v2\/tags?post=5952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}2.The Deemed Acquisition Rule<\/b><\/strong><\/h2>\n
3.U.S. Tax Filing Continues After the Move<\/b><\/strong><\/h2>\n
Green Card Holders<\/b><\/strong><\/h3>\n
4.U.S. Retirement Accounts: 401(k)s and IRAs<\/b><\/strong><\/h2>\n
Roth IRAs and Roth 401(k)s<\/b><\/strong><\/h3>\n
5.Health Savings Accounts<\/b><\/strong><\/h2>\n
6.529 Education Savings Plans<\/b><\/strong><\/h2>\n
7.U.S. Mutual Funds, Canadian Funds and PFIC Exposure<\/b><\/strong><\/h2>\n
8.FBAR and Form 8938 Continue to Apply<\/b><\/strong><\/h2>\n
9.RRSPs, TFSAs and Canadian Registered Accounts<\/b><\/strong><\/h2>\n
10.U.S. Businesses and Corporations<\/b><\/strong><\/h2>\n
11.Keeping U.S. Rental Property<\/b><\/strong><\/h2>\n
12.U.S. Real Estate, Principal Residence and Section 121<\/b><\/strong><\/h2>\n
13.U.S.-Source Income After the Move<\/b><\/strong><\/h2>\n
14.First-Year Canadian Return and Foreign Tax Credits<\/b><\/strong><\/h2>\n
15.Departure-State Residency and State Income Tax<\/b><\/strong><\/h2>\n
Practical Examples<\/b><\/strong><\/h2>\n
Example 1: California Employee Moving to Ontario<\/b><\/strong><\/h3>\n
Example 2: Entrepreneur Retaining a U.S. Corporation<\/b><\/strong><\/h3>\n
Example 3: Family Retaining a 401(k), Roth IRA and U.S. Home<\/b><\/strong><\/h3>\n
Common Cross-Border Moving Mistakes<\/b><\/strong><\/h2>\n
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Before You Move: U.S.-Canada Tax Checklist<\/b><\/strong><\/h2>\n
Frequently Asked Questions<\/b><\/strong><\/h2>\n
Do I stop filing U.S. taxes once I move to Canada?<\/b><\/strong><\/h3>\n
Does moving to Canada trigger a U.S. exit tax?<\/b><\/strong><\/h3>\n
Does Canada tax my U.S. investments when I arrive?<\/b><\/strong><\/h3>\n
Do I have to close my 401(k) or IRA before moving?<\/b><\/strong><\/h3>\n
Is my TFSA tax-free in the United States?<\/b><\/strong><\/h3>\n
Will I need to report my Canadian bank accounts to the U.S.?<\/b><\/strong><\/h3>\n
What if I keep my U.S. home and rent it out?<\/b><\/strong><\/h3>\n
Does the departure state still tax me after I move?<\/b><\/strong><\/h3>\n
Disclaimer<\/b><\/strong><\/em><\/h1>\n
Official References<\/b><\/strong><\/h2>\n
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