US Citizens living outside of the United States MUST file a US tax return and numerous other reports. The failure to file these forms may result in severe penalties.The filing guidelines are updated to April 2017. Effective 2016 Canadian financial institutions will be required to report income of their US clients to the IRS as the US FATCA agreement has been signed by Canada. We recommend that you be aware of the rules and that you call us for any questions.
Please review the US Citizens Living in Canada fact Sheet on the details. Read the full Fact Sheet in PDF.