How to move stocks and options from brokerage account?

Moving Here
1

Hi,
I have a US based TD Ameritrade brokerage account in which I hold some stocks and options. After I informed that about my new Canadian address, they sent me an email asking me to either move all my stocks and options out of the account to some other Canadian account or liquidate it. If not done by 6/29, they would liquidate it on my behalf.
Please can someone suggest how to move those holdings to Canada? Can I maybe open a TD Direct account and transfer it ? Has someone gone through the process and can shed some light?
Will appreciate any help.

thanks,
-v-

2

Open a questrade margin account and have it moved there. You can do it without liquidation.

3 Likes
3

I have the same situation. Do you incur any taxes if you are just moving your assets?

4

thanks a lot @rndmdude for that excellent suggestion. Have initiated the process now with questrade.
thanks!

5

Hi @vishal1 @rndmdude when you guys transferred what was the cost basis of the stocks?

  1. the price you bought the stock in US
    Or
  2. the price it has on the day you moved to Canada
    Or
  3. the price when you moved the money to Canadian account?

Highly appreciate if you can share your experience

6

Hello, I used #1 for my taxes this year. It wasnt much as I wasnt fully reinvested, so I wanted it to be safe. Your brokerage will give you #3 but with a warning that it is your responsibility to keep track of cost basis etc.

1 Like
7

Thanks for sharing your experience

8

What brokerage account did you all use in Canada ?