Buying & holding U.S. securities
Posted date : Jul 23, 2021.
Should a snowbird refrain from buying and holding U.S. securities in order to avoid any closer connection determination being made by the IRS/Homeland Security officials in scrutinizing an individual’s residency basis for an income tax status?
Ralph McGiffin
Ottawa, ON
Ed.: We have never seen any negative repercussions from owning U.S. stocks. I have been trading U.S. stocks (in Canada) for 40 years without any issues, other than the tax withholdings which my accountant gets back eventually.
