US Estate Tax May be Payable by Canadians

US Estate Tax May be Payable by Canadians

Canada-U.S. Tax Treaty Article XXIX B Taxes Imposed by Reason of Death A U.S. estate tax return must be filed if a deceased Canadian resident who is not an American citizen-owned U.S.-situated asset exceeding $60,000 fair market value at death.  However, if the...
PFIC and Canadian mutual funds

PFIC and Canadian mutual funds

Why are PFIC rules important for holders of Canadian mutual fund? Many American citizens living or working in Canada have invested in Canadian mutual funds – likewise, many Canadians who subsequently moved to the United States retained their Canadian mutual funds...