Canadian transfer

Question

Can a Canadian citizen who is relocating to the US, transfer nonqualified funds and/or shares to a US brokerage account? Are there tax implications, even if moved "in Kind"?

Answer 1

Non-qualified funds usually is only an issue if held in a registered account like a Canadian RRSP, etc. I'm confused, can you be more specific?

Generally, you aren't required to transfer the funds and if you are emigrating from Canada. The in-kind fund transfer may likely be considered a deemed disposition for tax purposes by CRA. You need an accountant for guidance on this.

Have you considered simply leaving them in your brokerage account here? I watched a whole bunch of crazy Irish guys go home back in 2003-2005 because of the boom and they were incredibly thankful that they left their Canadian pensions and retirement savings here because they would have been financially wiped out otherwise.