Serbinski Weinberg, Ltd., Certified Public AccountantsTax and other financial matters concerning Canadian professionals in the U.S. and U.S. citizens in Canada Includes income and estate taxation, social security, health insurance, retirement accounts, cross border tax issues, and other matters affecting your pocketbook. Topic Administrator: Mark T. Serbinski, CA, CPA of Serbinski Weinberg, Ltd. CPA's and Serbinski Partners, Chartered Accountants

Canada to U.S. Business Immigration Newsgroup

Topic: Tax and Financial

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Posted by Nelson on August 25, 2004 at 05:28:23:

In Reply to: Keeping a US bank account open after moving to Canada posted by Ken on August 24, 2004 at 22:35:25:

I'm a dual US/Canadian citizen - moving back to Canada end of September. Can I keep a US checking account open (used to payoff my student loan) and keep a US credit card - or would this give the IRS reason to believe I'm still a resident..and tax me accordingly?
First off, a bank account is not a sign of residency, in either US or Canada.

HOWEVER, since you are a US citizen, you will ALWAYS have to file your taxes in US regardless of where you live.

You will still eventually qualify for any Foreign income exclusion as long as you are physically out of US for the required days, as your bank account is not an indication of presence.


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