12:03 pm
May 20, 2017
My wife and I hold TFSAs at Peoples Trust. I have to close them when we become non residents. Which institution would accept our TFSAs (both full) when turning non residents? I am looking for the best possible interest rate. HSBC would keep them open but pays .8% vs. 1.75% for Peoples Trust.
Thanks
3:48 pm
October 27, 2013
There are many Canadian institutions that will not deal with non-residents. Best you can do is to pick a choice off the Comparison Chart and ask who will hold a TFSA for a non-resident. Keep phoning until someone says that they will do so. I suspect most (all) members of this forum are resident in Canada and thus would not know anyway.
7:20 pm
October 21, 2013
Virtually everyone on this site is a Canadian resident, so perhaps you need a site for ex-pats.
These are complicated issues involving CRA and so on. There is a lot you have not told us here and in your previous question. If you wanted a good answer, you would need to provide all the details. However, it's unlikely that you would get a definitive answer even if you did because this is not a question we have had to deal with in most cases.
You should probably talk to CRA to get the rules that apply to your situation. Maybe you need a lawyer. The rate you get may be secondary. Any FI can refuse your business if they choose to do so for whatever reason.
Please write your comments in the forum.