This post should be construed as an information bulletin. It is not to be construed as practical advice, legal advice, moral advice, retirement planning advice or any other kind of advice. If you feel that you need professional advice then you should go and get it. This post contains the following five parts:
Part 1 – A reminder of what the transition tax is and what it (according to the tax professionals) requires you to do
Part 2 – A statement of part of the Canada U.S. Tax Treaty that you might find to be of relevance
Part 3 – Confirmation from the Department of Finance that the Canada Revenue Agency will not assist the IRS in collecting the "transition tax" on Canadian citizens
Part 4 – It is likely that the same situation would also apply to citizens of France, Sweden, Netherlands and Denmark
Part 5 – Residents of countries other than France, Sweden, Netherlands, Denmark and Canada
Again, this post is an information bulletin and is NOT to be construed as providing any form or advice.
There have been a large number of Brock posts devoted to the "transition tax".
For example: