Money in US account

Canada Immigration Forum (discussion group)


 
       
Subject: Money in US account
  Hi,

I recently moved to Canada as PR after 5+ years in USA on H1.I have two questions:

1.Can I maintain my US bank account and hold money there even though I have no legal status there? If yes, for how long? Can the US govt. sieze my savings if I do not close/withdraw my account.

2.Is it legal/OK to hold and trade shares in US in an account such as Ameritrade?

Your advice would be greatly appreciated.
J

[16-11-2006,16:26]
[**.96.145.254]
jackofallo
(in reply to: Money in US account)
Anybody can manintain a bank account in US, no problem. We (me & Wife) had 2 accounts there after we moved to Canada. When after few years I returned to US, everyhting was fine. You just have to update your address to your Canadian address as we did.

My father in law never stayed in the US for long, he comes once on a while as tourist, but still maintaining a bank account for a long time.

Not sure about Trade Share.

[16-11-2006,16:46]
[***.254.208.242]
Shah
(in reply to: Money in US account)
Thank you Shah.
[16-11-2006,17:09]
[**.96.145.254]
jackofallo
(in reply to: Money in US account)
Yes, it´s ok to hold, maintain, and trade in a securities account located in the U.S. It´s treated just like having a bank account there. You can manage and trade shares in your U.S. account over the internet from Canada.
[16-11-2006,17:19]
[**.53.231.75]
Richard
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