Financial Planning for Americans living in Canada

Managing Your Cross-Border Investments Effectively Is Key

Americans living in Canada often aren’t aware of the investment problems they may face if they don’t deal with a Cross Border Financial Advisor.

Starting with Taxes

Many of our clients know they have a continual obligation to file taxes in the US, but they don’t realize certain investments in Canada cause an additional tax liability. Canadian mutual funds, ETF’s, RESPs and TFSA are seen by the IRS as a passive foreign investment company (PFIC) and leaving investments in the US is against SEC guidelines.

Avoid the Pitfalls with an Effective Cross-Border Financial Plan

When you work with an advisory team licensed in Canada and the US, they can manage your retirement accounts whether you live in Canada or the US. At SWAN we have a team of experts who can help you avoid the common pitfalls a US person living and investing in Canada often experiences.

We can manage an IRA whether you live in Canada or the US and create a financial plan taking into consideration assets and pensions on both sides of the border.

Keeping It Legal and Optimized for Taxes

What you may not know is that using a friend or relative’s address in the US while you reside in Canada is against SEC (Security Exchange Commission) guidelines and may cause a state tax issue when you withdraw. In addition, Canada has higher taxes than the U.S and certain investments are beneficial and taxed favorably while living in Canada.

At SWAN Wealth Management we help in the following ways:

• Manage your IRA and retirement accounts from Canada or the US
• Offer a pre-immigration consultation from a tax perspective before you move
• Guidance on retirement benefits such as CPP, social security and medicare
• As a portfolio manager we are not limited to just investing in mutual funds but can choose holdings tailored to your individual needs
• Transfer your investments from the USA to Canada keeping in tax deferred account
• Hold investments in US and/or Canadian currency on both sides of the border
• Minimize your tax burden by creating a tailored financial plan
• Manage your investments over the long-term so you can retire happy
• Provide access and management to your investments no matter what side of the border you live
• Understand the tax implications of various investment strategies
• Create a financial plan that serves you in the short and long-term
• Act following our fiduciary duties to ensure every aspect of your financial plan is in your best interest

To get started simplifying your cross-border finances and investments, schedule a call below.

Schedule a Call