Posted: Sat Sep 13, 2008 4:19 pm-
You only need the lights changed (Canadian Tire does it), odometer is optional, have a look at
www.riv.ca - you do need a clearance letter and have to make an appointment before you show up at the border. There is no duty on personal effects including vehicles, get a copy of CBSA Form B4 and B4A to declare them when you bring them back.
You can keep your bank accounts, etc., but you need to get a W-8BEN from the bank and fill it in. IRAs are treated as RRSPs under the new tax treaty, not sure if 401(k) is treated any differently, hard to say as the tax treaty has only just come into force and there are no instructions available yet. There is some form to fill out with the CRA to declare your IRA as an RRSP but I don't know the form number yet.
If you've been filing 1040s (as opposed to 1040NR) since you entered it is complicated to move your tax home back to Canada, the main bit of paperwork is the 1040-C which essentially pro-rates your personal exemption for the year, you will also have to file dual-status for 2008, i.e. a 1040 and a 1040NR, have a read of IRS publication 519 for details.
It is very important also to file IRS Form 8822 to inform them of your Canadian address, so they know how to calculate your social security (as it counts as CPP under the totalization agreement).
In addition you will need to file a T1 return for the portion of the year you are in Canada, and claim a foreign tax credit for the income tax paid in the US. Your personal exemption will be pro-rated depending on your arrival date in Canada.
There can be many other forms you need to fill out depending on your specific tax situation.
You can reduce the paperwork a fair bit if you can move your tax home on January 1st. This is not necessarily the date you left the US, it's the date you severed all residential ties to the US. If you're not working in Canada until next year then this removes the need to file a Canadian tax return, it also means you can file a regular 1040 return as you were a tax resident for the whole year.
It's not clear how long you can stay in the US after you no qualify for TN-1 status (i.e. finish work) but generally visa holders have ten days, but TN-1 is not a visa.
Various moving companies obviously, I used Allied.
What happens with the Form B4 and B4A is that you present it to CBSA when you enter and they sign off on it. It is important to get your packing list used by the movers as close to what it says on the B4 and B4As as possible. Once the stuff arrives, you go to your local CBSA office and present the approved forms so CBSA will release the goods, usually the mover will give you a call to tell you when to go to the office and present the paperwork. They will go through your B4s and make sure everything matches, it doesn't have to all be in one shipment, you can keep going back to have more stuff cleared if you want.
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Steve.