CosmicSurfer

You guys don't get it.. I am 75 YO... At 50, I moed Previously to Bangkok for 10 Years, 5 Years Married to a Thai. I am NOT a Thai Newbie. I'm a Dual Canada & USA Citizen. Born and Raised in Canada and Naturalized to the USA. I Collect a small QPP, and Tiny (under $25) CPP. The QPP I collected while I was in Bangkok because I could start taking it younger. It was enough to pay my rent. I also collect a Small SocSec. from USA. AFTER I left Thailand I aged into OAS. I collect Full OAS and a small Supplement. I fully qualified for my OAS BEFORE I moved to USA. In USA I also have a very old and SMALL IRA. I have Sold all stock in it and want to get my Money OUT of the USA ASAP. Due to OAS Supplement complication I must wait until I cease being a Tax Resident of Canada before I can do that (NEXT Year???) Sitting in the IRA It does not qualify as Income, which it will become as soon as I take it out. I also have a Mutual Fund (1) in Canada... (This is the Complication that requires me to get an Accountant to File my USA Global Taxes.) Also, when I previously lived in Bangkok, i had NO NEED to File Canada Taxes, as there was no Global Requirement. I also had No need to File US Taxes because my Income was too low. I ONLY had to File Thai Taxes for the First 5 years. After That I became a Dependant on my Wife's taxes. Now all that has Changed with the passage of time and changes of circumstances. Moving back to Thailand will have Zero effect on my SocSec. I will be able to extract My US Cash sitting in the IRA and send it to Bangkok for use towards my Visa requirement. At that time It will no longer have impact on my Canadian OAS Supplements because Canada will Strip them from me once I am a Non-Tax resident, I will no longer qualify. The Money I will owe the IRS on the Taxable IRA Source Income will be small and returned to me after I file. However Canada WILL Try and apply a 25% Expat Tax on my OAS. The Only way I can mitigate this is to Appeal by Filing a Special Form Every 5 years (and A tax return Every Year of my GLOBAL Income) demonstrating that my Income is still Low. Then wait on their yearly judgement of how much they will deduct (Not more than 25%). Further, As long as I have that Canadian Mutual Fund, it requires that 1/4 inch of documents on my US Tax Filing.... And Now Thai Banks are cooperating in American IRS FBAR Nonsense as well. I will no longer get away without filing Taxes in All THREE Countries! Not Because I am Rich and making Lots of Income and have big Investments, But Because I am poor, and had a stupid idea to move to the USA (A lesson I wish I could reverse... Renouncing my Citizenship costs $2,300 last time I checked.... After Trump It will probably triple.) So I'm stuck with a complicated Tax "Filing" (Not Tax debt or Owing) Situation. It is ALL just Bureaucratic paperwork. Finally, If I play games with Canada CRA or US IRA I jeopardies my living Income and my Ability to pay for my Health Insurance and Thai Visa... 400K Baht for a Marriage Visa. I Will NEVER, for ANY reason return to USA. Not even to transit or catch a US Flag plane. I want NOTHING to do with that Hypocrite of a Country. Just MY SocSec that I paid into! I will only return to Canada for Family matters. I can NOT afford yearly Trips. I will Die and be Cremated in Thailand! And so the Story will End! CS

BINGO!!! You nailed my Problem.... For the USA it is the Foreign Investment Stuff. Before I got it, I did all my Taxes myself. (I was also a lot younger with a clearer mind!) Now I need a US tax Accountant in Canada to produce the 1/4 inch of documents I am required to file. The Canadian problem (25% Withholding Tax for Expats on Old Age Security) will be new to me and will only kick-in after I move back to Thailand. Unless Thai Taxes actually change as threatened, I can probably do them myself as well. Yes, I have a TIN... If it is still Valid?? Last time I used it was over 15 years ago. Or my ex-Wife may be able to help. She's an Accountant, but in Finance for a Multinational. "Taxes for Expats" feels like they may be what I need. I hope they are not too expensive! Thanks for your input! Sawadee... CS

As I have said previously, I currently live in Canada... I will be moving back to Thailand, and the USA has ZERO involvement with my OAS. Thanks, CS

This may Prove useful... I will check it out. Thank You. CS

Thanks, but none of that applies to me... All I have in the USA is My Social Security. My US problem revolves around Reporting a Small Canadian investment to the IRS. It requires about 1/4 inch of Documents for my 1040. Previous to Trump <deleted> around with the tax reporting system in his first term, I did it myself, and I had a 4 page Return. Thanks for your input. CS

Thanks.. I lived previously for 10 years in Thailand, and I did have a TIN, it was a Yellow Card If I remember correctly. And I did submit Taxes to Thailand. (I still have copies of my returns, though I lost the Tax ID Card.) For the first 5 years of my Thai residency, I also did it myself. Super easy! My Wife, during the last 5 years I lived there, was a Thai Accountant. Our divorce caused me to have to leave. We are still very close friends, but she Works for an Multinational corporation in Finance and has NO Idea about US/Can taxation. She is not trained for this job. So I am familiar with the Thai System, But there have been changes since then, both in Thai Tax Law and my own situation. I am NOT worried about Progressive Thai Taxes... it is just one part of a 3 part tax obligation mix. I DO need a US/Canadian Tax Accountant!I Not that I have a very complicated Situation. Canadian Tax Filing I do myself now while I live in Canada. I used to do my US filing also, but that changed after I inherited enough money to require a small Investment, and Trump during his First term changed the rules requiring a 1/4 inch of Documentation to report my very small and simple Mutual fund. The Thai part is just an added component. My Canadian Taxes will also get more complicated after I become Non-resident in Canada. While US Social Security is paid in full to expats (unless Trump gets another great idea in how <deleted> up Citizens lives), Canada has a 25% Withholding tax for Old Age Security (OAS) for Non-Residents. There is a way I can try and get that reduced, but my Tax filing obligations will become more complicated! So that is Why I need an Accountant familiar with both US/Can Taxation, with a side of Thai. Thanks for your advice. CS

I will check them out... Thanks!! CS

That is a complicated question as I don't know the details of your situation. Currently, OAS starts at 67... For Me it started at 65. If I recall, I think you need around 40 years Canada Working residency to qualify. Not sure if it needs to be after 18. Suffice to say, I qualified and have been collecting OAS plus Supplements for the past 10 years. I left Thailand in 2011 and returned to Canada. I lived in USA for a decade Before I moved to Thailand. And 10 years in Thailand in-between. How long and when did you start getting OAS? Is it possible you never qualified for the Full amount, and have been paying the Deducted Non-Resident amount from day one? All I know is about MY situation. For sure, I will lose ALL OAS Supplements after I change my Tax Residency status to Thailand. The 25% Non-Resident Withholding Tax is applied to the Basic OAS. You can check on the CRA/OAS website about the "Non-Resident Tax" OAS deduction. CS

Thank You... I'm just concerned that such a prestigious multinational firm as is PWC is out of my reach financially. I am NOT Rich. When I lived there before, my only filing concerns were Thai, as i had to report my Thai Income. For the USA my Global Income was too low and did not Require Filing, and Canada Only cared about Canadian income which were non-existent at that time. Now I have Canadian OAS Pension Income, a Canadian Mutual Fund, US Social Security, and possibly Thai income in the future. My Tax filings are not Complicated Investment wise, as I barely have any. They are complicated paperwork-wise due to inconsistent US/Canadian Tax Laws, and the need (after I move) to try and recover the "Non-Resident tax" that will be deducted from my Canadian OAS pension. I used to File my US Taxes myself, and I still do my Canadian taxes. But I stopped doing USA after I received a small inheritance that is now invested in a Mutual Fund in Canada, that the IRS requires a 1/4 inch of documentation for, with my 1040 filing. The Canadian 25% "Non-resident" Tax filing is something I never needed to do before, as I wasn't collecting OAS Pension at that time, therefore not subject to this withholding Tax. At my advancing age, I worry I'll forget this Document that must be Filed Yearly, and that I have never done before. My mind does not process things as clearly anymore as I age. I'd rather a pro was doing it. I would just like to Find a competent Local firm that won't take all my disposable income to do the work. Having one Firm to be capable and knowledgeable about all 3 systems just makes sense! As long as I can afford their services. Thanks, CS

Sorry... As a Senior Expat with Dual-Citizenship, my taxes are too complicated for any free Tax filing software. Too complicated to explain here... trust me, if I could do it for free, I would. My US Filing requires a ton of paperwork due to my Mutual Fund in Canada, and once I move out of Canada, I will lose 25% of my Canadian OAS, unless I file a special form yearly. When I return to Bkk, it will be on a Married Visa, and there is NO WAY I will Ever return to the USA for ANY reason, Or Canada to live. I return to Thailand to close the story! So YES, I WILL be there more than 180 Days! 😀 CS

If the new Tax laws pass, taxes will be required on any foreign money.... And My Monthly Pension will always be an issue. etc. Plus I may open a business in Bangkok.

I am moving back to Thailand after a 15 year absence. and I'm a Dual Canada/US citizen. So i need an accountant that can do my tax filings for all 3 countries. Any help finding a knowledgeable professional is appreciated. Krub. With Thanks... CS

I'm in Canada also... Which Bank are you using?? Thanks, CS

I am Jewish and have Lived in Both Israel and Thailand, and I call this 100% Israeli IDF Hasbara!! (Gaslighting Propaganda) The Threat of Antisemitism in Thailand is minute, compared to the waterfall of anti-Semitism created globally by the Apartheid and Genocide Actions of the International Fugitive Benjamin Netahyahu and his War Criminal cohorts!