Q&A: Moving to the States

Question: I currently have Fidelity mutual funds. Due to the death of my husband I will be moving in the New Year to the U.S. to live with my son and family. Can my mutual funds be transferred to the U.S. without a withdrawal penalty? – Diann H.

Gordon Pape answers: Sorry to hear of the loss of your husband. Our condolences. Regarding your Fidelity funds the answer is no, they cannot be transferred to a U.S. account. The Fidelity funds sold in Canada are only licensed for sale in this country and may not be held by U.S. residents. You will have to liquidate your Canadian funds and open a U.S. account when you move there.

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