I'm Canadian. Are there any US brokerages which offer TSFA accounts? Could save a few bucks in taxes. I searched the site for some info, didnt find much. Thought I would raise the topic.
To be more specific, TFSAs are somewhat analogous to Roth IRAs. One contributes after-tax funds and all appreciation and withdrawals are tax-free. TFSAs are very flexible and can be withdrawn any time without penalty. One also regains the contribution room the following year. Eg. If in 2017, I withdraw $30k for home renovations/travel/crack binge, I can recontribute my $30k withdrawal in 2018.
IB offers TFSA accounts. But why do you want a US brokerage?
You also want to avoid holding US dividend paying stocks in a TFSA. The broker will take a 15% withholding tax on dividends and you can't claim a foreign tax credit. This is unlike an RRSP where there is no withholding tax because of the US-Canada tax treaty and for non-registered accounts where you can claim a foreign tax credit.
