Q: Good morning,
My intention is to move some US $ from my US Non Registered account to my CDN $ Non Registered account through a journal transfer.
I just sold a US ETF and with the proceeds purchased TRP.US
Q1. Are the TRP.US dividends paid in US $ or CDN$?
Q2. Do the TRP.US dividends generated in the US Non Reg Acct qualify for the Canadian Dividend Tax Credit?
Q3. Can I simply call my TD Direct Investing broker to move TRP.US from my US Non Reg Acct to my CDN Non Reg acct?
Thank you and I'll await for your response to these three questions.
My intention is to move some US $ from my US Non Registered account to my CDN $ Non Registered account through a journal transfer.
I just sold a US ETF and with the proceeds purchased TRP.US
Q1. Are the TRP.US dividends paid in US $ or CDN$?
Q2. Do the TRP.US dividends generated in the US Non Reg Acct qualify for the Canadian Dividend Tax Credit?
Q3. Can I simply call my TD Direct Investing broker to move TRP.US from my US Non Reg Acct to my CDN Non Reg acct?
Thank you and I'll await for your response to these three questions.
5i Research Answer:
TRP pays dividends in Canadian currency; they get the full dividend tax credit as it is a Canadian company; brokers have differing policies and some may request that transfers are done online. But it is a simple and common practice and a phone call will provide the brokers' specific instructions.