Close Canadian Brokerage After India Move
Questrade/Wealthsimple wind-down, TFSA deemed disposal, T5008 export, and CAD wire to NRE.
The 60-second version
Canadian brokerage closure pairs with CRA non-residency. I export T5008 slips, handle TFSA exit tax, and wire CAD before bank account closes.
TFSA exit is the Canadian tax trap
TFSA remains tax-free in Canada but deemed disposal may apply on emigration — I confirm CRA departure return before closing.
Non-registered Questrade / Wealthsimple: sell CAD stocks, convert to INR wire, close account.
RRSP can often stay open — separate from taxable brokerage close; see RRSP guide.
Canada landing: Canada-to-India return guide.
Canadian account close matrix
| Account | Close on departure? | India tax |
|---|---|---|
| Non-reg brokerage | Usually yes | CG on sale + Schedule FA |
| TFSA | Optional | Deemed disposal Canada; India exempt if RNOR |
| RRSP | Often keep | Tax on withdrawal later |
| CAD bank | Close after wire | FEMA incoming wire docs |
Canadian brokerage wind-down
CRA departure
File departure date; obtain NR certificate if needed.
Export T5008
Download all tax slips from broker.
Sell positions
Mind TSX settlement T+1.
Wire CAD
To NRE via AD bank; keep FIRC.
Close broker
Written request; confirm zero balance.
Wind-down flow
Canada export kit
- T5008 slips.
- CRA departure confirmation.
- Broker closure email.
- FX receipt.
- Schedule FA opening values.
Need help with Tax & Residency?
Share your blocker in one line. Our experts will reply with practical next steps.
NR withholding
Canada may withhold on certain distributions post-departure — claim via Form 67.
Quick visual
Animated decision map
Community signal
What to watch in real discussions
Search community threads for the exact phrase, then treat repeated complaints as risk signals rather than official advice.
Open nofollow community search ->Interactive checkpoint
Turn this guide into a decision file
0 of 4 checked
Keep Questrade with India address?
Policy varies — many require close within 90 days of non-residency.
Transfer to Indian demat?
Not supported for TSX listings — sell and rebuy in India if needed.
Crypto on Wealthsimple?
Separate wallet export — capital gains both countries.
Joint spouse account?
Both signatures for transfer out.
RESP for kids?
Keep or transfer to sibling — separate from brokerage close.
India tax on CAD wire?
Wire itself not taxable — only capital gains on sale.
Your tax year is already running.
RNOR status, exit timing, and DTAA benefits all depend on decisions you make before you land. Don't guess.