investment in US (insurance, college, taxes)

[magagi]

Hi again!
One more question (for now)
So, we are moving to vancouver from US. We have some investments like life insurance, IRAs, funds for the kids college...
Is there anyone that lives and is resident in canada and have US investments? How do you manage?

Thanks!

[Cornerguy1]

Unless you want to actually appear in person at the financial institution which holds your investments, just arrange to manage them through some sort of remote (email, phone, mail) system.

If you're uncomfortable with that system, you could cash them out and bring them to Canada ---- but the penalties involved probably make that an undesirable option.

If you're a US citizen, you'll still be required to file a US tax return regardless of where you live.

[movingwiththewind]

Originally Posted by Cornerguy1

If you're a US citizen, you'll still be required to file a US tax return regardless of where you live.

US permanent residents (green-card holders) have to file, as well.

[magagi]

Thanks for the answers.
We are not US citizens and don't hold the green card so we don't need to pay taxes unless, as you already said, we withdraw them (not worth it!!!).
Do we need an US bank account? We started these investment long time ago when we though we would stay in US. We talked with our financial advisor and there are few options that involved having an US bank account.
Thanks!