Pacifica Partners is able to provide comprehensive wealth management solutions for expatriate clients, including customized management of both American and Canadian accounts.

Whether you are a Canadian moving to the US or an American moving to Canada, we will be able to assist you in managing your investments on both sides of the border.

In order to further assist crossborder individuals we have compiled our informative "Moving to Canada" and "Moving to the US" one-page reports (downloads available below).


Canadians Moving to or Living in the US

Canadians living in the US often face the following difficulties shortly after moving across the border:

  • Restrictions with trading and management of their RRSPs (“Frozen RRSP”) and other investment accounts back home in Canada.
     
  • Understanding and interpreting key differences between Canadian and US personal financial planning. For example, addressing the question whether you should apply for CPP, SS and when.
     
  • Understanding key elements of the Canada—USA Tax Treaty, including various obligations and reporting requirements.
     
  • Complications with owning property on both sides of the border.
     
  • Tax liabilities arising from holding Canadian mutual funds.  Canadian mutual funds can be treated as PFICs (Passive Foreign Investment Corporation) resulting in high tax liability.
     
  • Deficient information for the purposes of IRS tax reporting on Canadian investments.  Canadian tax slips don’t always fulfill IRS requirements (eg. ROC return of capital, short term capital gains).
     
  • Coordinating the management of US and Canadian portfolios.
     

Americans Moving to or Living in Canada

  • Americans living in Canada commonly face the following issues after moving across the border:
     
  • Dealing with trading and management limitations for their IRAs (“Restricted IRA”), 401Ks and other investment accounts back home in the USA.
     
  • Understanding the key differences between US and Canadian personal financial planning.
     
  • Understanding the Canada—USA Tax Treaty
     
  • Keeping abreast of US estate tax, gift tax and challenges of mixed citizenry family.
     
  • Owning property on both sides of the border.
     
  • Managing the treatment of stock options.
     
  • Coordinating the management of both US and Canadian investment portfolios.
     

 

If you are facing difficulties such as those mentioned above, please contact us for additional information or to schedule a complimentary 60-minute initial consultation.

 

Crossborder Planning of your Canadian and US Portfolio

Crossborder Investors