Navigating TFSAs and Tax Implications for U.S. Citizens in Canada

This chapter examines the nuances of Tax-Free Savings Accounts (TFSAs) for U.S. citizens residing in Canada, highlighting shifts in contribution limits and tax advice. It discusses the complexities of investment options, particularly mutual funds classified as PFICs, and outlines the need for strategic financial planning when relocating to the U.S. The chapter emphasizes careful consideration of tax implications and asset management to avoid complications for individuals moving across borders.