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Thread: US bank accounts in Canada or if you are deemed to be a US person in Canada

  1. #1
    Dancing bean paste bun Ciel's Avatar
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    Spotted this item on Yahoo about the Canada Revenue Agency's (CRA) agreement with the US Internal Revenue Service's (IRS) to share banking records that may involve a US person or US funds in Canada. If you are a Canadian, you can ask the CRA if it shared your records but the CRA is not telling people if their records have been shared.

    I also noticed an upcoming Toronto seminar (Feb. 2) on whether individuals in Canada should renounce their US Citizenship. The seminars are available in other major Canadian cities i.e. Edmonton on Jan. 26.

    So if I were to get a bank card that I could load US dollars on without actually owning a US dollar accounts, would I too fall into this category? Posting it here as in the future, I'd like a bank card for US online purchases.
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  2. #2
    Mastermind Shwa Girl's Avatar
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    Thanks for the link.
    I think that Canada and US have been sharing bank record information for a while. Snowbirds who spend less than 6 months in the US and may own US property have known about this, I think.
    Ciel likes this.

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