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
Making Roth Conversions Before Moving to Canada: Key Considerations
Relocating to Canada from the U.S. presents unique financial planning opportunities and challenges, especially regarding U.S. retirement accounts like IRAs and Roth IRAs. One strategic move often considered is converting a traditional IRA or 401(k)/403(b) to a Roth IRA before establishing Canadian tax residency. Below, we outline the key aspects of this strategy, clarify the [...]
Unlocking Double Tax Benefits: Using Your IRA for Charitable Giving as a Canadian Resident
You’ve spent the majority of your career employed in the U.S. and are ready to return home to Canada with notable retirement assets in hand. For Canadian residents holding U.S. Individual Retirement Accounts (IRAs), Qualified Charitable Distributions (QCDs) offer a rare opportunity to optimize charitable giving while minimizing tax burdens. This strategy leverages unique provisions [...]
Cross-Border Tax & Estate Planning Under the Big Beautiful Bill: Key Considerations for Canadian and U.S. Taxpayers
With the enactment of the "Big Beautiful Bill" on July 4, 2025, cross-border taxpayers—particularly those navigating Canadian and U.S. tax and estate planning systems—face major legislative changes. These changes are reshaping the individual, estate, business, and international tax landscape, with far-reaching implications for planning, compliance, and long-term strategy. At Cardinal Point Wealth Management, we specialize [...]
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.
