Manage Accounts in Canada While Living in the US

If you are a U.S. resident, with retirement accounts stranded in Canada (RRSPs, RRIFs, LIRAs – Locked-In Retirement Accounts, Pensions, etc.), we have a comprehensive investment solution that allows you to have professional management of all your investment accounts on both sides of the border in one integrated portfolio while coordinating it with your tax, retirement and estate planning objectives. We have pioneered techniques to tax efficiently stage withdrawals from RRSPs/RRIFS or unlock LIRAs for non-residents of Canada giving you access to those funds when living in the US. This allows you to simplify your financial situation while making the most of the assets available to you. We can also evaluate the currency risks your portfolio presents and develop strategies to protect your US dollar lifestyle from a declining Canadian loonie.

As a resident of the US, collapsing a retirement account in Canada has a maximum withholding tax rate of 25% . . . which is typically much better than when you lived in Canada where the combined federal and provincial tax rates can exceed 45%. However, with proper planning, we can reduce this withholding to 15% and with proper coordination of the portfolio here in the US, reduce your tax rate to even less than that. In fact, we have brought entire retirement accounts down from Canada and clients have paid an effective tax rate of 0%!

We create long-term, low-cost, tax efficient portfolios that optimize the location of your investments across the various Canadian and U.S. accounts. Furthermore, we have the international tax and investment expertise to manage your investment portfolio so it maximizes the use of foreign tax credit carry-forwards on your US return while minimizing your tax obligations in both countries. With us managing everything, your tax preparation is a snap because we already have all of the information you need to meet the stringent IRS (Forms FinCEN 114, 8891, 3520 and 8938 for example) and CRA (Forms T1135, T1161 and T1243 for example) reporting requirements and keep you in compliance with the tax authorities in both countries.