THURSDAY OCTOBER 12, 2017
3:00 – 5:00 pm P.S.T.
Crown Isle Resort & Golf Community/Copper Room
399 Clubhouse Drive
Courtenay B.C. V9N 9G3
The life of a dual-filer doesn’t have to be complicated.
Join our seminar and learn about the many strategies that can help you maximize your after-tax income and remain compliant.
You may be a dual filer if you are a long-term dual citizen of the United States and Canada; are Canadian born with an American parent; are an American Green Card Holder or live in Canada with American citizenship.
In this seminar, specialist John Richardson will cover topics such as:
- Investment restrictions to be aware of
- Forms you need to file
- Managing estate planning issues
- Whether to keep your U.S. citizenship
- Exit Tax (and its misconceptions)
- Coming into compliance
Your Host Lara D. Austin BA FMA CIM
Investment & Wealth Advisor
RBC Dominion Securities
John Richardson B.A., LL.B., J.D.
I’d reword this:
“You may be a dual filer if you are a long-term dual citizen of the United States and Canada; are Canadian born with an American parent; are an American Green Card Holder or live in Canada with American citizenship.”
“You may be eligible to become a dual filer if you are a long-term dual citizen of the United States and Canada; are Canadian born with an American parent; are an American Green Card Holder or live in Canada with American citizenship. If you are not already filing US taxes, you should think long and hard about whether it’s necessary or wise to become compliant.”
Because you’re only a dual filer if you’re actually filing. Otherwise you’re a US person living in Canada, whom the US thinks is obliged to file, but it’s certainly not the case doing so is necessarily in your best interest.
You mention a good point. But this seminar is aimed at a particular group — people who *are* US tax filers (and those who feel they should be because of their fact set and are planning to file). I note that that sentence states “You *may* be a dual filer if you are a long term-dual citizen . . . .”
Sounds to me that this seminar is not for everybody, but is a good opportunity for those who do file US taxes (or will be doing so, due their fact set) to get in-person information from a competent source who won’t be pushing over-compliance/OVDI/etc.
Interesting. This post has quite a different tone than the tone which has been consistently the message on Brock since I started reading the blog in 2013 or so. It starts with “the life of a dual filer doesn’t have to be complicated”. The message in the past has always been the exact opposite–that the life of someone having to file a US tax return (and FBAR’s and FATCA compliance) is indeed impossibly complicated, to the point where the only options are to renounce or to stay under the radar and not file.
Has something changed, either in the actual difficulty of remaining compliant or in John Richardson’s view of its difficulty? I say John Richardson due to his being one of the hosts as well as his long term involvement.
Re: “This post has quite a different tone than the tone which has been consistently the message on Brock since I started reading the blog in 2013 or so.”
I think that the Brock message has always been renounce or stay under the radar *if you can* — and pointing out the why and how– but that’s not a practical option for every USC who lives outside the US. One example might be a US-Cdn dual who has US income or some other strong financial ties to the US.
I think Brock’s message in general has been and is, think long and hard before jumping into the US tax system – make sure you actually are a US citizen before even thinking about doing so — and if you are a USC that there’s no one-size-fits-all in dealing with tax or renunciation/relinquishment.
Re, “It starts with “the life of a dual filer doesn’t have to be complicated.”
As for me, I sure think the life of a dual-filer is inherently complicated. I think though if you are filing, this would be a pretty solid seminar to get information from. Note: I have nothing to do with this seminar, only know what I learned from the internet today. Looks like RBC is hosting the seminar (and therefore most likely prepared the text of the announcement) and I’m very pleased that they’ve invited John to take part because he really knows this stuff and is definitely not into scare tactics.
John Richardson may be much-loved on Brock, but isn’t this precisely the sort of “compliance-condor” presentation that Brockers have always denounced?
This is not a compliance condor presentation or post (or I wouldn’t have put it up). The wording is from the actual invitation- written by a wealth advisor who is aware there are difficulties involved for those who are dual and are filing. She is neither an accountant nor a tax lawyer.
The presentation is primarily focused on how to invest. You might notice there is a point as to keeping citizenship or not. Perhaps those of you who have commented have never been to one of John’s seminars?
There are many people here who have chosen to become compliant based upon their circumstances. There is no one-size fits all on Brock.
A dual filer is still a second class Canadian stripped of basic rights and freedoms and subject to US tax law changes that take no regard of the tax planning of the residents of other countries. A dual filer is still a second class US citizen, with the required annual search of his entire financial life and subject to monstrous penalties for the slightest mistake.
No matter how much you simplify compliance, these facts do not go away.
No argument there but the facts also include those who are older, covered and would incur the Exit Tax should they renounce according to US law. They won’t live long enough to “save” what they would pay in tax/compliance fees by paying the Exit Tax. They still have to live and invest as best they can. Not much hope Canada is going to go out on a limb for them. But real tax reform would save these folks.
I’ve been to John’s seminars and he’s definitely not a compliance condor. I think he quietly rejoices with those who are able to renounce and get rid of US tax citizenship. In fact he presented very good information when I was getting rid of my US problem. Unfortunately, some are stuck in the system and may need to look at investing. Investing when one still has US taint can use some simplification.
Why was this posted on IBS? It’s an invitation from a private “wealth manager” to a private seminar at a private club half way up Vancouver Island. Hardly the sort of event any of us can afford to attend. Oh wait, many members at Crown Isle are from Calgary with money.
The program is free. The reason it is posted here is for expats who are compliant who need advice about investing. John Richardson is the presenter.