Investment services for Canadians living in the United States
If you are moving to the United States from Canada or are already a resident of the U.S., we can help you manage your assets and investments on both sides of the border through a single relationship with a dually licensed financial advisor.
Frequently asked questions
Is there such a thing as a U.S. RRSP?
No. In the U.S., a 401(k) plan and individual retirement account (IRA) are similar to an RRSP. However, you cannot “roll over” an RRSP into a 401(k) plan or IRA without first liquidating the RRSP, an action that could trigger significant penalties and taxes.
My financial advisor or investment manager said they can no longer manage my accounts. What do I need to do?
If you are a Canadian who moved to the U.S., you may be able to leave your RRSP in the hands of your Canadian brokerage, though the account may need to be self-directed. This means you would need to make all the investment decisions for your RRSP without the guidance of a financial advisor or investment manager. That’s where we can help. With Raymond James (USA) Ltd., we can hold your account and still provide ongoing investment guidance.
Are there special concerns about my existing retirement savings I need to consider in the U.S.?
RRSPs and TFSAs can create complex situations for taxpaying residents of the U.S. Our financial advisors, licensed in both jurisdictions, can provide guidance on how to manage those issues.
Canadian cash accounts can, in many cases, simply be moved to a U.S.-licensed firm. However, different actions may be required based on the types of assets. We can help you understand your choices and make decisions suitable for your personal situation and financial goals.
Can a Raymond James (USA) Ltd. financial advisor manage both my Canadian and U.S. investments?
Yes. Raymond James (USA) Ltd. advisors are dually licensed to work with Canada- and U.S.-based clients and investment assets.
I am a resident of the U.S. or Canada, and I have received an inheritance from a relative across the border. What do I need to know to handle this appropriately?
We can help you open an account appropriate for your loved one’s gift that is consistent with your financial goals and is informed by the tax implications of the benefit.
