Expatriates Living Abroad

For those Canadians and Americans moving or living abroad, careful cross-border financial planning considerations must be given to ensure tax and regulatory compliance in both your home and adopted countries.

EXPATRIATES LIVING ABROAD

For those Canadians and Americans moving or living abroad, careful cross-border financial planning considerations must be given to ensure tax and regulatory compliance in both your home and adopted countries.

The implementation of a proper investment and financial plan requires thoughtful analysis that protects your estate while living abroad but offers the flexibility if and when you were to return home to Canada or the United States. Cardinal Point assists Canadian and U.S. expats with the following:

Advice on assets that should transfer abroad or remain in your native country
Management of investment accounts that remain in Canada or the United States
Advice on Canadian and U.S. retirement distribution strategies while residing abroad
Tax planning exit strategies to prevent tax residency questions or issues
Holistic advice on cross-border financial and estate planning
Incorporation of U.S. gift and estate strategies within the financial plan
Assistance with cross-border tax planning strategies, including annual foreign account disclosure filings

Guidance on retirement benefits, such as CPP, OAS, Social Security and Medicare
Assistance with currency conversion
Residential and commercial real estate advice
Financial transition planning when returning to Canada or the United States
Assistance with the preparation of Canadian and U.S. tax returns
Health, life, disability, long-term care, business and property insurance review

Investment accounts in Canada and the U.S.?

Our team manages assets in both countries

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Speak with a cross-border financial planner

We handle all your cross-border tax & financial planning needs

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OUR RECENT PUBLICATIONS

Ebook: Canadian Deductibility of 401(K) Contributions and U.S. Deductibility of RRSP Contributions

New Ebook - Canadian Deductibility of 401(K) Contributions and U.S. Deductibility of RRSP Contributions A Canadian working in the U.S. may be offered a 401(k) plan with matching contributions by their employer. The plan will lower U.S. taxable income, but what effect will it have on Canadian taxable income? Are the matching contributions taxable in [...]

Ramifications of Liquidating Brokerage Account

Residents of Canada: What are the Canadian and U.S. Tax Ramifications when being forced to liquidate a U.S. brokerage account Ebook

New Ebook - Residents of Canada: What are the Canadian and U.S. Tax Ramifications when being forced to liquidate a U.S. brokerage account New enforcement of existing U.S. nonresident client regulations regarding U.S. taxable brokerage accounts means that many of these accounts are being forced to close, loosely based on the location of the primary [...]

Clarifying the U.S. Minimum Distribution Rules

Regulations around Required Minimum Distributions (RMDs) are quite complex and simultaneously extremely important. Failing to take an RMD will result in a 50% excise tax. There is a precise calculation to determine an RMD amount for a given year, and you can delay your first RMD. There are specific situations that permit extending the period in which you must take a distribution and rules that apply in the event of death. There are regulations around RMDs applicable to inherited accounts, and these have completely changed since passage of the SECURE Act in 2019. Opportunities exist to delay RMDs for a Designated Beneficiary not yet chosen. There are a multitude of tax implications around all of these issues, and Cardinal Point is eminently qualified to offer you tailored guidance in your planning strategies.

Expatriates Living Abroad