US Persons Residing in Canada
If you are considered a US Person (i.e. US citizen or US Green Card Holder) and residing in Canada, there are important items to be mindful of as they pertain to US tax rules and how they impact your investments, and ultimately how you can build your financial plan to achieve your goals. Some of these considerations include:
- Account Types to avoid
- PFIC - certain investments are considered as passive foreign investment companies (PFIC's) and require additional disclosure on your US tax return.
- Use of Life Insurance
- Estate Planning special considerations
- Transfer/Status of ROTH IRA or 401K to RRSP.
Patricia Ng has experience working with US Persons based in Canada. She can work with you and alongside your other advisors (i.e. lawyers and accountants) to build an investment and financial plan that works for you while being mindful of the special considerations as a US Person.
If you are a US Person and wanting to learn more about how Patricia’s services can be of value to you, please contact her directly at 604-306-2661 or at patricia.f.ng@rbc.com
