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 CIBC Private Wealth, Wood Gundy  CIBC Private Wealth, Wood Gundy

The Wooding Group

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Investing for US Citizens

Address 10180-101 Street Suite 1800 Edmonton AB, T5J 3S4
Telephone Number (780) 498-5047
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Investing for US Citizens

How It Has Become Increasingly Complex

The needs of US Citizens living in Canada have becoming increasingly complex following the passing of Foreign Account Tax Compliance Act (FATCA) legislation and implementation in July of 2014. Financial Institutions in Canada now report relevant information on accounts of US Persons to the Canada Revenue Agency (CRA), with the CRA passing the information to the IRS. While reporting for US Persons is not new, the fallout of FACTA has seen increased tax reporting requirements and therefore additional workload on accountants.

 

As a result, a record numbers of US Citizens have renounced their US citizenship (1,426 during July-September, 2015 – a new quarterly record). We believe with prudent planning, co-ordination with professional accountants and thoughtful investment choices, we can prepare US citizens living in Canada with all they require to minimize the burden of tax filing and allow them the privilege of maintaining their US Citizenship.

 

To save tax liabilities and costs, we match the investment choices available to US Persons with our existing ‘Purpose-Driven’ investment philosophy. The result is achieving your financial goals while keeping US Citizenship in mind as we consider prudent investment choices!

 

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CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries: CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc.(“ISI”), CAM and credit products. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.