Proof of funds..

[Eric Parker]

When landing...with a COPR from the Family Stream...do you have to show proof of any funding?

Also - I have more than 10,000 in accessable funds in a checking account that I plan to transfer to a new account when I do settle. Can I transfer the funds from one bank in the US to a Canadian bank, through the banks themselves? Or do I have to physically, with a casheirs check, come though the landing procedure with the money in tow? Also, I noticed that the funds in excess of 10,000 must be claimed on a sheet. If I have to physically bring the money to Canada, can I take the money in two trips (like 5000 one trip and 5000 the next trip) and avoid filing the paperwork, or would it be better to do all the money in one whack.

Lastly - I also have an IRA worth over 30,000 US. When I get a PR, and eventually settle, do I have to transfer this IRA to something simular to it in Canada or can I keep it in the States?

Thanks!

 

[PMM]

Hi

When landing...with a COPR from the Family Stream...do you have to show proof of any funding?

Also - I have more than 10,000 in accessable funds in a checking account that I plan to transfer to a new account when I do settle. Can I transfer the funds from one bank in the US to a Canadian bank, through the banks themselves? Or do I have to physically, with a casheirs check, come though the landing procedure with the money in tow? Also, I noticed that the funds in excess of 10,000 must be claimed on a sheet. If I have to physically bring the money to Canada, can I take the money in two trips (like 5000 one trip and 5000 the next trip) and avoid filing the paperwork, or would it be better to do all the money in one whack.

Lastly - I also have an IRA worth over 30,000 US. When I get a PR, and eventually settle, do I have to transfer this IRA to something simular to it in Canada or can I keep it in the States?

Thanks!

1. AS family class you don't require proof of funds at landing.
2. You would have to check with the banks, if they will do it.
3. Why worry about the reporting if you are carrying $10K, it is a very simple form to complete and thats that.
4. Your IRA is your choice, but start your reading here: http://www.advisor.ca/images/other/ae/ae_1205_moveit.pdf to see if it is possible.

PMM

 

[Alice100]

Just a caution, becareful regarding hiding money by dividing it into portions, so long as you got the money through the right channels, do not hide, declare the whole amount in one portion, if you divide it and CBSA decides to check you and your luggage, they will either fine you or seize the money.

Good luck

 

[Eric Parker]

Just an update here...I asked my bank in the US about transfers and they told me they could send the whole amount by a wire transfer to my wife's account in Canada. If that is the case, do I still have to declare it on a from at the border when I land even though I do not have the money on me, either in cash or cheque?

And by the way....I wasn't going to hide any amount, just take 1/2 in one trip and 1/2 in another trip. 2 trips, 2 checks but not enough money to warrant any paperwork. The reason I would like to avoid any paperwork is because it just seems that any extra work and forms the IO's have to do just irritates them and empowers, encourages, and entitles them to hassle someone unessesarily. I want my landing, when the process gets to that point, to go smoothly without having IO's get in a bad mood.