MOVING TO THE U.S. FROM CANADA
Coordinating a move to the U.S. from Canada without a financial transition plan can lead to adverse tax consequences and missed financial planning opportunities.
MOVING TO THE U.S. FROM CANADA
Coordinating a move to the U.S. from Canada without a financial transition plan can lead to adverse tax consequences and missed financial planning opportunities.
Strategic Financial Planning for Canadians Moving to the U.S.
Moving to the U.S. from Canada requires thoughtful financial planning strategies that address departure taxes, transitioning assets and investment interests across the border, managing Canadian dollar investment accounts while tax managing them based on the U.S. tax rules, as well as creating a cross-border estate plan. Cardinal Point helps coordinate the financial transition across the border and then continues to oversee the relationship when the move is complete. We focus on assisting clients in the following areas:
- Exit and departure planning strategies to minimize tax and prevent residency questions or issues
- Preparation of Canadian departure tax returns
- Determine best approach to wind up Canadian corporations
- Advice on specific assets that should transfer to the United States or remain in Canada
- Transition of specific Canadian investment accounts to the United States
- Coordinated investment management services for U.S. and Canadian accounts
- Advice on Canadian retirement distribution strategies while residing in the United States
- Holistic advice on cross-border financial and estate planning
- Incorporation of U.S. gift and estate strategies within the financial plan
- U.S. investment and retirement account creation
- Assistance with ongoing cross-border tax planning strategies
- “Canada-U.S. Tax Treaty” advice to avoid double taxation
- Guidance on retirement benefits, such as CPP, OAS, Social Security and Medicare
- Assistance with currency conversion strategies
- Canadian stock option and company bonus plan advice before exiting Canada
- Residential and commercial real estate advice
- Health, life, disability, long-term care, business and property insurance review
- Guidance on the unique economic and regulatory environment in the United States
- Personal and corporate Canada and U.S. tax preparation including annual foreign account disclosure filings
OUR RECENT PUBLICATIONS
Understanding British Columbia’s Property Transfer Tax and the 1084204 B.C. Ltd. Case
British Columbia's real estate market is known for its dynamic nature, attracting both domestic and international investors. To regulate this market and generate revenue, the province imposes the Property Transfer Tax (PTT) on property transactions. This article delves into the intricacies of the PTT, its implications for foreign entities/nationals, and examines a recent pivotal case: [...]
Navigating Cross-Border Retirement Benefits in 2025: US Social Security and Canadian CPP/OAS
Cross-border retirement planning has never been more relevant. In 2025, many Canadians living in the U.S. and Americans living in Canada face complex questions around Social Security, CPP, and OAS benefits. Our updated article explores how longstanding agreements like the totalization agreement (1984–2025) and the U.S.-Canada tax treaty continue to shape eligibility and taxation rules—while addressing key developments such as the 85% inclusion rate, new e-filing systems, and the growing importance of residency status. Whether you’re planning to retire soon or already drawing benefits, understanding where and how your income is taxed is crucial.
Social Security Identity Verification: Need to see your ID, please…
The US Department of Government Efficiency (DOGE) recently announced that it discovered massive fraud against the Social Security retirement program, citing 130 year-olds collecting Social Security payments as an example. Against that backdrop, the Social Security Administration (SSA) has changed how people must prove their identity when 1) claiming benefits for the first time and [...]
How We Help
Cross-Border Financial Planning
Cross-border financial planning is crucial for Canadians and Americans living in or between the U.S. and Canada—not just to minimize tax exposure, but also to reduce potential liabilities.
Cross-Border Investment Management
Cross-border investment management significantly benefits those who have lived or worked in both Canada and the U.S. and have accumulated investment accounts in both countries. Cross-border investment management brings the cohesion and integration needed to properly manage investment accounts and assets under one uniformed strategy
Cross-Border Estate Planning
Cross-border estate planning is critical for Americans and Canadians living and working in the U.S. and Canada due to the differing tax laws and regulations in each country. Without proper planning, individuals may face significant tax liabilities, potential double taxation, and legal complications when transferring assets across borders.
Cross-Border Tax Planning
Cross-border tax planning for Americans and Canadians living, working, or investing in both countries involves multiple tax considerations, treaties, rules, and regulations. Learn how Cardinal Point can help minimize your tax exposure in the U.S. and Canada while ensuring compliance with all local and state tax laws.
