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My client is a California citizen. Client has two CDs and a checking account with The Toronto Dominion Bank. My client has tried to bring the funds to the United States, unfortunately they are in CDs and cannot be cashed out until they mature next year. Client also cannot place a beneficiary on them, so client was advised to make sure they were in client's living trust. Can client list the CDs in the Califonria living trust, and if so, will there be any consequences, ie. taxes, penalties.
June 12, 2017 12:16:21 PM
In reply to ron, torrance
Welcome to TD Helps, Ron. We'd be glad to help you find the information your client needs.
As you've mentioned that they currently bank with TD Canada Trust, we recommend that they reach out to a Specialist in Canada to discuss any implications this may cause.
They are able to reach out to a Specialist on the Canadian TD Helps Team here: https://go.td.com/1QBOF4U. Once they receive your client's inquiry, they will be glad to provide any information they have on the topic.
They are also able to reach a TD Canada Trust Specialist directly for clarification. Have them choose the most convenient contact option for them here: https://go.td.com/1woOVay.
We hope to hear from your client to discuss their relationship soon, Ron. Have a great morning!
Megan K, Mount Laurel
June 12, 2017 12:16:31 PM