Investing

Moving back to CAN, Still working in US, straight answer on what to do with investments?

  • Last Updated:
  • Sep 8th, 2018 5:51 pm
[OP]
Newbie
Sep 6, 2018
3 posts
1 upvote

Moving back to CAN, Still working in US, straight answer on what to do with investments?

I'm a Canadian born citizen & Naturalized US citizen. Our family lived in Detroit, MI for several years and I worked in MI for several years. Wejust moved back to Windsor, ON. I'm commuting back to the US every day for work, my employer is in Michigan. My wife is also a Canadian born citizen, but never naturalized in the US so only ever held a Permanent Resident card.

I can't find a straight answer on what to do with my investment accounts. Anybody provide any insight on what to do with ANY of them?? I temporarily changed all the addresses to my parents' house (also in MI) but I am guessing that can't be a long term solution...?

I'm making up a bunch of these numbers for illustration purposes, I "have":

Company Retirement Account with Merrill Lynch, made up of:
- $150k Traditional 401K (pre-tax money put in)
- $100k ROTH 401K (post-tax money put in)
- $80k employer contributions
I talked with my HR and also with Merrill Lynch and they said THEY HAVE no issue continuing as normal and changing my address to Windsor, Ontario. But are there any tax issues I'm not seeing?

ROTH IRA:
- $60k portfolio of individual stock holdings that I manage
- This is currently with ETrade who told me they will freeze the account if I change my address to Canada. So for now my address is my parents house in Michigan. (??)

"UNREGISTERED" Regular Taxable Stock Portfolio
- about $40k in individual stock holdings
- again with ETrade, address is currently my parents house in Michigan

MI-529 College Savings Plans
- Probably about $40k total for all 3 kids

Keeping in mind I still work for the same employer, so they still actively contribute to my 401K/ROTH 401K account (not a match, they just straight up deposit money in every year, even if I contribute $0)

Anybody have any answers? Or direct me to a qualified resource that can help me? We just moved 2 weeks ago, so nothing has really changed much in these accounts yet from the date of our landing/return.
3 replies
Deal Expert
Jan 27, 2006
17206 posts
9954 upvotes
Vancouver, BC
You will need to find a tax firm which specializes in cross border situations - ie have accountants AND lawyers who understand the US and Canadian side of things. Any one else would just be guess... you need someone who will back what they said in case you get audited. You also want someone who can tell you what makes the most sense from an investment return point of view.
Deal Addict
May 15, 2013
1772 posts
478 upvotes
Montreal
With all that money you have the best investment now is to pay $150 to a good accountant who has experience in these issues.

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