On the Canadian corridor the single biggest sequencing risk is the deemed disposition on departure, which values most non-registered assets at fair market value on the day you emigrate whether or not you actually sell them.
Last reviewed: September 2026 · Updated for AY 2026-27
Lock the target year of return and project your Indian day-counts. Inventory your RRSP, TFSA and RESP balances, your non-registered accounts and any Canadian real property. Model the deemed-disposition exposure that arises on departure, because it is calculated on emigration rather than on an actual sale and can be the largest single number in the plan.
Decide which non-registered positions to realise before departure and which to carry across. The TFSA and RRSP lose their Canadian shelter once you are Indian-resident, since India does not recognise those wrappers, so decide the treatment of each deliberately rather than by default. Open or refresh your NRE, NRO and FCNR accounts.
Prepare the CRA departure return, which reports the emigration date and the deemed disposition. Build the Form 67 and DTAA credit file so Canadian tax paid can be claimed in India with proper documentation. Confirm the landing date, as it sets the Indian day-count and therefore your residential status for the year.
Land. Within 30 days redesignate your NRE and FCNR accounts to RFC and file the FEMA changes that follow the status change. Synchronise the final-year T1135 foreign-asset report with the first-year Indian Schedule FA so the two disclosures describe the same assets consistently across both filing seasons.
A 45-minute working session that ends with a written next-step plan.
This guide is general information published by RTA & Associates. It is not tax, legal, financial or investment advice, and it does not create a client relationship. It does not take account of your personal circumstances, and you should not act or refrain from acting on the basis of anything here.
Cross-border outcomes turn on the specific facts — your day-counts, the timing of your move, the wrappers you hold and the treaty position between the two countries. A small change in any of those can change the answer completely.
References to the law, rules or practice of countries other than India are included for general orientation only. They are not advice on the law of that country, and they should be confirmed with a qualified adviser in that jurisdiction before you act.
Tax law, exchange-control rules and treaty positions change, and they change often. This page reflects our understanding as at the date shown above. We do not undertake to update it.
To the extent permitted by law, RTA & Associates and its partners and staff accept no liability for any loss arising from reliance on this page. For advice on your own position, book a consultation.
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