49th Parallel Wealth Management

Wealth Management

Financial Planning and Investment Management for Americans Living in Canada and Canadians Living in the U.S.A.

Wealth Management in Canada and the United States

Navigating wealth management in Canada and the United States is anything but straightforward. Tax rules, investment vehicles, and retirement plans differ significantly on each side of the border. For individuals with family, property, or careers that cross between Canada and the U.S., a traditional advisor simply won’t do. You need an expert who understands both systems inside and out. Someone who can help you protect your assets, minimize taxes, and build a truly integrated financial future, no matter where life takes you.

Canada-U.S.A Cross-Border Financial Planning

A Canada-U.S. cross-border financial plan is more than just a roadmap—it’s peace of mind. Whether you’re moving, investing, retiring, or working in both countries, your plan needs to address tax treaties, currency exchange, account structures, and compliance on both sides. 49th Parallel Wealth Management specializes in crafting personalized cross-border plans that cover everything from RRSPs and IRAs to social security optimization and estate strategies. Our goal? To help you achieve financial clarity, reduce unnecessary taxes, and ensure your wealth works for you on both sides of the 49th parallel.

Many clients worry about their Canadian investment accounts after a move south. The answer isn’t always simple, as both countries have specific rules around reporting, taxation, and ongoing contributions. We break down your options, help you avoid costly mistakes, and create a strategy that makes sense for your unique situation.

For your Consideration

As a U.S. citizen, you must file an annual U.S. tax return—even if you live and earn income in Canada.
The IRS requires you to report foreign bank accounts if the combined balances exceed $10,000 at any point in the year (FBAR filing).
Canada and the U.S. have a tax treaty that can help prevent double taxation—but you need to file the right forms to benefit.
Your Canadian RRSP is tax-deferred in the U.S. if properly reported, but a TFSA is not recognized as tax-free by the IRS.
U.S. citizens living in Canada can still contribute to 401(k)s under certain conditions—ask a cross-border specialist before acting.
Although Canada has their own form of Health Savings Account, U.S. HSAs are not tax-free in Canada.
529 Education Savings Plans were not included in the Canada-U.S. Tax Treaty and investment income is fully taxable in Canada.
RESP accounts for your children’s education are not tax-sheltered in the eyes of the IRS. Did You Know?
Canada’s universal health care system does not replace the need for travel insurance when you visit the U.S.
Canada does not have an estate tax, but it does have a death tax in the form of a deemed disposition. Both countries have a probate process and use wills, trusts, and powers of attorney for estate planning. Estate planning is jurisdictional and a new estate plan will need to be created once your move across an international border.

Moving to Canada?

As an American relocating to Canada, it’s essential to structure your financial affairs correctly to prevent double taxation and ensure compliance with the laws of both nations. Our experts offer guidance on a wide range of tax matters tailored to Americans living in Canada, including:

Steps to take to reduce taxes before becoming a resident of Canada
Additional U.S. tax filing requirements once you move to Canada
Necessary modifications to make your estate plan once you move
Advice and oversight of investment accounts that remain in the U.S. and those that must be transferred to Canada based on compliance and regulatory rules.
What to do with your U.S. stock options and restricted stock units (RSUs)

Aside from the requirement that all U.S. citizens must annually file a U.S. tax return regardless of their residency, Americans should be aware that many of the tax and estate planning strategies that worked well for U.S. purposes may not work as well for them in Canada. Likewise, tax and estate planning strategies that are effective in Canada could complicate U.S. tax and estate planning.

Why Work with a Cross-Border Advisor?

Finding an advisor licensed and registered to provide financial advice on both sides of the U.S.-Canada border is no easy task. Few firms meet regulatory requirements or have the necessary structure in place. Even among those that do, it’s rare to find a team focused exclusively on Canada-U.S. cross-border financial planning.

At 49th Parallel Wealth Management, we stand apart. Our service model and platform are specifically designed to support Canadians living in the U.S., U.S. citizens living in Canada, Canada-U.S. dual citizens, and American and Canadian expatriates worldwide. With our specialization in cross-border financial planning, we’re uniquely equipped to handle the complexities of your Canada-U.S. financial needs.

Management of Canadian and U.S. investment accounts under an integrated platform
Advice on specific assets that should transfer to the U.S. or remain in Canada
Retirement planning and advice on retirement benefits such as CPP, OAS, Social Security and Medicare
Holistic advice on cross-border financial and estate planning
Creation of a cross-border transition and exit strategy between Canada and the U.S.

Tax planning, foreign-based account guidance and navigating the U.S.-Canada Tax Treaty
Assistance on cross-border asset transfers and currency conversions
Canadian and U.S. stock option and company bonus plan advice
Guidance on real estate and assets in both countries
Health, life, disability, long-term care, business and property insurance review

49th Parallel Wealth Management is a registered investment advisor. Advisory services are only provided to clients or prospective clients where 49th Parallel Wealth Management and its representatives are properly licensed or exempt from licensure. No advice may be rendered by 49th Parallel Wealth Management unless a client agreement is in place. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.