{"id":868,"date":"2021-10-15T10:33:04","date_gmt":"2021-10-15T10:33:04","guid":{"rendered":"https:\/\/advisor.wellington-altus.ca\/degelmanprudengroup\/?page_id=868"},"modified":"2024-04-02T14:52:13","modified_gmt":"2024-04-02T14:52:13","slug":"americans-bringing-in-money-from-the-us","status":"publish","type":"page","link":"https:\/\/advisor.wellington-altus.ca\/degelmanpruden\/americans-bringing-in-money-from-the-us\/","title":{"rendered":"Americans Bringing in Money from the US"},"content":{"rendered":"\t\t
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Americans Bringing in Money from the US<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Americans moving north of the border into Canadian provinces and territories have a lot to consider before making the trek. One vital piece of information is often overlooked – Canadian securities laws dictate a financial advisor licensed in Canada must be used for all investment transactions.<\/p>

This simple oversight can lead to major issues if not taken care of – including the liquidation of retirement assets.<\/p>

The United States Internal Revenue Service (IRS) considers most Canadian retirement and tax-advantaged plans (TFSAs, RESPS, ETFs, and mutual funds included) as passive foreign investment companies. The Security Exchange Commission (SEC) does not allow for the funds to be left behind in the US, either.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Degelman Pruden Wealth can help. Our experts will give you confidence that your funds will be appropriately handled as you transition to life in Canada. We can also manage funds like an IRA regardless of which side of the border you reside in.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Attempts to avoid these issues informally typically result in failure and penalty. Using a relative’s address, for instance, is a violation of SEC guidelines that frequently ends in tax problems at the state level.<\/p>

Our knowledgeable team can walk you through the various ways to take advantage of favourable tax policies, such as converting an IRA to a Roth IRA. We have a deep understanding of these policies that offers our clients the best opportunity to manage funds successfully.<\/p>

Simply put, Degelman Pruden Wealth is qualified and prepared to put your finances in the best position possible for short and long-term growth.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Degelman Pruden Wealth can assist you by:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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