Dual citizen with two passports, two returns — where does doing it myself start to cost money?
Some of it, yes — and we will say so on the call if that is the honest answer. The parts that are worth paying for are the ones where a missed election, a missed deadline or an unverified threshold costs more than the fee: neither citizenship overrides the other.
What if I have already filed and got it wrong?
That is a common starting point. We re-derive the position, identify whether an amendment or a disclosure route is the right vehicle, and tell you which one preserves the relief that is still available. The order matters more than the speed.
How long will it take?
It depends on the documents rather than on us. Once the pack is complete most filings turn around inside a fortnight; anything that needs a certificate from a tax authority runs on that authority's timetable, which we tell you at the start rather than at the end.
Do I have to file two returns if I hold two passports?
Usually, yes. Citizenship-based filing on the United States side and residence-based filing on the Canadian side are separate obligations, and neither passport cancels the other. The treaty decides which country has the first claim on a given item of income and relieves double tax through credits, but relief is claimed on a return, so the return still has to be prepared. In practice one set of figures is assembled once and then presented twice, in two currencies and under two sets of rules, with the credit position worked out rather than assumed.
Does the Canada US treaty mean I only file once?
No. The treaty allocates taxing rights and stops the same income being taxed twice over; it does not remove a filing obligation from either country. It also works item by item rather than as a blanket. Employment income, pensions, dividends and capital gains can each be allocated differently, so one year can leave one country with the first claim on part of your income and the other with the first claim on the rest. Claiming a treaty position is itself something you do on a return, and in some cases it has to be disclosed there.
Is my tax-free savings account taxed by the United States?
A shelter created by one country binds only that country. An account that grows tax free under Canadian rules is, to the United States, an ordinary investment account, so the income and gains inside it are reported on the US return in the year they arise even though nothing is taxable in Canada. Because there is no Canadian tax on that income, there is usually no Canadian credit to set against the US tax either, which is what makes these accounts expensive for a dual citizen. Decide before opening one which spouse, if either, should hold it.
Why is my bank asking me to confirm US status?
Financial institutions outside the United States report account information on customers they identify as US persons, and they identify them from indicators such as a US birthplace, a US address, a US telephone number or a standing instruction to a US account. The letter asks you to confirm or rebut one of those indicators; it is not an accusation. It matters because the answer you give is sent onward with your account details, and an account reported in the name of someone who has never filed is a common way a long-dormant filing problem surfaces.
Should the American spouse hold the investment account or not?
Often not. Where only one spouse is a US person, the account producing investment income is generally simpler in the hands of the spouse who is not, because it keeps that income outside the US return and outside US reporting altogether. The point has to be settled before the account is funded. Moving assets between spouses later raises attribution questions in Canada and gift questions in the United States, and it can bring tax with it on the way. This is the sort of choice that costs nothing to make correctly at the outset and a great deal to unwind.
Would renouncing one citizenship end the second filing obligation?
Only from the date it takes effect, and only if it is done formally. Renunciation is a legal act performed before a consular officer, and the tax system treats the departure as an event in its own right, with a final return and, for some people, a deemed sale of their assets on the day before. It does nothing to years that are already open: those still have to be filed, and filing them is usually a precondition of a clean exit. It is a planning decision with a sequence to it, not a switch.
Do I have to declare my dual citizenship?
A tax return does not generally ask you to declare which passports you hold; it asks about residence, and in the US case it applies to citizens by definition. What does ask is your bank. Account-opening self-certification under FATCA and the Common Reporting Standard asks which countries you are a tax resident or citizen of, and the answer is reported onward to the tax authority. So the practical answer is that the information arrives either way. See FATCA reporting.
Do I have to file in both countries?
Frequently yes, and the two filings do different jobs. The country where the income arises taxes it at source; the country where you are resident taxes your worldwide income and then gives credit for the tax already paid. Filing only one side is what leaves relief unclaimed — the credit has to be asked for on a return. We prepare both sides so the numbers agree. See dual filing.
