Talk:Cross-border and expatriate issues

Moving to the United States from Canada
Marked section as empty. Ideas for content could come from http://www.financialwisdomforum.org/forum/viewtopic.php?f=32&t=113623; http://www.financialwisdomforum.org/forum/viewtopic.php?f=32&t=116847; http://www.bogleheads.org/forum/viewtopic.php?p=1925011#p1925011 and http://forums.serbinski.com/viewforum.php?f=2. This list is not exhaustive, just ideas for a starting point. --Peculiar Investor 06:40, 4 February 2014 (MST)
 * Also and, particularly Bruce's reply. --Peculiar Investor 17:15, 29 December 2015 (MST)

Reader feedback: How to make changes form Can...
108.204.30.21 posted this comment on 25 March 2016 (view all feedback).

How to make changes form Canada in allocation or withdrawal from retirement fund (401K, 403b, IRA)? Does unspent 401K, 403b, IRA go directly to American beneficiaries, independent of Canada?

Any thoughts?

Peculiar Investor 08:42, 25 March 2016 (MDT)

Reader feedback: HSA US AND CANADA
135.19.51.88 posted this comment on 31 March 2017 (view all feedback).

"HSA US AND CANADA"

This is in reference to the US Health savings account which allows employees to deduct HSA contributions against income and thereby reduce the amount of taxes paid to the US government. I don't see anything in finiki which mentions the Canadian version.

For Canada, FAQ - Canada Health Spending Accounts, states this is a form of a Trust account. Going further, the CRA has an overview Income Tax Folio - S2-F1-C1: Health and Welfare Trusts, but I don't know if this is correct or where to look for the right information.

LadyGeek 19:16, 31 March 2017 (CDT)

Further research points to Private health services plan premiums. The defining document is "Interpretation Bulletin IT 339". --LadyGeek 20:10, 31 March 2017 (CDT)
 * I'm not sure what to recommend here, the acronym is the same but the expansion is different and the article currently makes no reference to Health Spending Account (HSA). For Canadians, Health Spending Accounts can be part of extended health insurance or employee benefits. A quick check via Google indicates there are only 4 mentions of the term on FWF, so it's not something that draws a lot of Canadian financial discussion. The challenge is how much coverage should this article give to acronyms that have different meanings? That's a common problem with acronyms that isn't even a cross-border issue. I'm inclined to mark the feedback as non-actionable, but other editors should also voice their viewpoints. --Peculiar Investor 20:52, 31 March 2017 (CDT)
 * It's actionable to explain the differences between US and Canada. A US citizen will be looking for the Canadian equivalent and vice-versa.
 * Neither extended health insurance nor employee benefit cover this account. Not having an HSA page in finiki (or at least mentioning an HSA) is an oversight, readers need to be educated. Alberta's website has a good description, along with a reference to the CRA page: Flexible Employee Benefit Programs. The CRA text contains information useful to compare US vs. Canada differences. --LadyGeek 21:26, 31 March 2017 (CDT)

Reader feedback: More content needed in many...
68.3.2.175 posted this comment on 7 April 2018 (view all feedback).

"More content needed in many of the areas. Should also list Taxation of Canadians in America and Taxation of Americans in Canada as possible references."

Any thoughts?

LadyGeek 09:38, 8 April 2018 (CDT)

Reader feedback: Reported via email from a re...
Peculiar_Investor posted this comment on 21 December 2018 (view all feedback).

Reported via email from a reader who is a Canadian currently working in the US...

"However it looks like this comment, which appears to refer to IRS Form 8891, is no longer valid as of 2014: "Canadians often don't know this unpleasant little fact: they do have to file something every year with the IRS to defer the tax on income inside a Registered Retirement Savings Plan (RRSP) they left behind."

News release IR-2014-97 from the IRS in 2014 says: " The IRS is eliminating Form 8891, and taxpayers are no longer required to file this form for any year, past or present." The news release is here: https://www.irs.gov/pub/irs-news/IR-14-097.pdf"

Any thoughts?

LadyGeek 06:41, 18 October 2020 (MDT)