A 2026 guide to what happens to your US investment accounts when you become a Canadian resident, and how to keep them working for you.

You moved to Canada, updated your address, and one day your US brokerage account stopped letting you trade. Or you got a letter saying the account will be restricted or closed. This is one of the most common and least expected surprises for people who move north, and it has almost nothing to do with taxes. It is a registration problem, and once you understand it, the fix is straightforward.

Here is what actually changes, why, and what to do about it, account by account.

The short answer

• Your account is not gone. The investments are still yours. What you usually lose is the ability to trade or get advice, not the assets.
• It is a registration issue, not a tax. Most US brokers and advisors are not registered to serve residents of a Canadian province, so they freeze or close the account rather than break securities law.
• Retirement and taxable accounts are treated differently. A US IRA can usually be kept and managed by a cross-border firm. A taxable brokerage account has more options and a few tax traps.

The worst move is to do nothing and let the account sit frozen, or to panic-sell everything. Both cost money you do not need to spend.

Why your US brokerage freezes your account when you move to Canada

Investment firms have to be registered with the securities regulator in the place where the client lives. When your address becomes Canadian, your US broker is suddenly dealing with a resident of Ontario, or British Columbia, or Alberta, and most US firms and their advisors are not registered in those provinces. Rather than risk giving unregistered advice, the firm restricts the account.

What that looks like in practice varies. Some firms move you to “liquidate only,” meaning you can sell but not buy. Some freeze trading entirely. Some give you a deadline to move the account elsewhere. None of this touches the value of your holdings. It only limits what you can do with them, which is exactly why leaving a frozen account alone is a mistake: an unmanaged portfolio is not the same as a safe one.

Retirement accounts versus taxable accounts

The rules split in two here, and it matters which kind of account you hold. (New to the Canadian system? See Is There a 401(k) in Canada?)

US retirement accounts (401(k), IRA, Roth)

These can usually stay in the US and keep their tax-deferred status under the Canada-US tax treaty. The catch is the same registration issue: to actively manage them, they often need to move to a cross-border firm that holds investment registrations in both countries. A dual-registered advisor can hold and trade your IRA for you as a Canadian resident. If your 401(k) is frozen, rolling it into an IRA at a cross-border firm is typically the cleanest fix. We cover the retirement side in full in our guide to what happens to your 401(k) when you move to Canada.

Taxable (non-registered) brokerage accounts

A regular taxable brokerage account has three realistic paths, and the right one depends on your holdings, your timeline, and whether you are also a US citizen.

• Move it to a cross-border firm. A firm registered in both countries can hold the account for you as a Canadian resident and keep managing it, usually without selling anything.
• Transfer the holdings in kind to a Canadian brokerage. Moving securities “in kind” means they are not sold in the process, so you avoid triggering a taxable sale just to relocate the account.
• Sell before you move. Sometimes the cleanest option, but it is a taxable event, so the timing relative to your move date matters a great deal (see the cost-basis point below).

The tax angles most people miss

Even when the account itself is handled, a few cross-border tax details decide how much you actually keep.

Your Canadian cost base resets when you arrive

When you become a Canadian resident, Canada treats you as having acquired your investments at their fair market value on that date. That resets your cost base for Canadian tax purposes. Any gain that built up while you lived in the US is generally outside Canada’s reach, which is why selling before versus after you move can produce very different tax bills. This is a planning opportunity, not just a technicality.

US withholding on dividends

As a Canadian resident holding US stocks in a taxable account, US dividends are subject to withholding, reduced to 15 percent under the treaty. In a US retirement account, that withholding generally does not apply. This is one reason where you hold US dividend payers matters.

US estate tax exposure

US stocks and US-domiciled funds are US-situs assets, which can expose a Canadian resident to US estate tax on death if total US assets are large. The treaty gives Canadians a prorated credit that shields most people, but high-net-worth investors with concentrated US holdings should plan for it deliberately rather than assume it away.

PFICs, if you are also a US citizen

If you are a US citizen or green card holder, be careful about what you buy inside a Canadian account. Most Canadian mutual funds and ETFs are treated by the IRS as PFICs, which carry punishing tax and reporting rules. US-domiciled funds do not have this problem for you. This is the mirror image of the trap and it is easy to walk into by simply buying “a Canadian index fund” at your new bank.

What to do before you move

As with most cross-border planning, the cheapest version of every fix happens before you land in Canada.

• List every US account and ask each firm, in writing, whether it will keep your account open with a Canadian address.
• Line up a cross-border firm registered in both countries so your IRA and taxable accounts have somewhere to go if they get restricted.
• Decide what, if anything, to sell before you move, using the cost-base reset to your advantage rather than by accident.
• Do direct, in-kind transfers where possible so relocating an account does not force a taxable sale.

Common questions

Can I keep my US brokerage account after moving to Canada?

Sometimes. It depends entirely on the firm and its registration. Some keep Canadian-resident clients, many do not and will restrict or close the account. Confirm in writing before you move, and have a cross-border firm ready as a backup.

Will Schwab, Fidelity or Vanguard let me keep my account in Canada?

Policies vary by firm and change over time, and some maintain international divisions while others do not service Canadian residents at all. Do not assume. Ask your specific firm directly, in writing, before you rely on the answer.

Can I still buy US stocks once I live in Canada?

Yes, but usually through an account that is properly set up for a Canadian resident, either at a cross-border firm or a Canadian brokerage. The restriction is on the old US account’s ability to serve you, not on your ability to own US stocks.

What happens to my IRA?

It can typically stay in the US and remain tax-deferred under the treaty. To actively manage it, it often needs to move to an advisor registered in both countries. See our full 401(k) and IRA guide for the details.

Do I owe US estate tax on my US investments as a Canadian?

Possibly, if your US-situs assets are large. The Canada-US treaty provides a prorated credit that protects most people, but concentrated, high-value US holdings warrant a deliberate plan.

The bottom line

A frozen US brokerage account feels alarming, but it is a solvable registration problem, not a loss. Your assets are safe. The work is in moving each account to a home that can legally serve you as a Canadian resident, keeping retirement money tax-deferred, and using the cost-base reset and treaty rules to your advantage instead of stumbling into them. Do it before you move if you can, and with someone who is registered on both sides of the border.

Planning a cross-border move or managing money in two countries?

If your US accounts are frozen or you are about to move, we can help you relocate them cleanly and keep them invested. Book a call with Sartorial Wealth, a dual-registered cross-border wealth manager: Book a call

This article is for informational purposes only and is not tax, legal, or investment advice. Cross-border rules change and depend on your personal situation. Consult a dual-registered cross-border advisor and a cross-border accountant before acting. Figures reflect 2026 rules current as of publication.