# Fidelity Bans U.S. Investors Overseas From Buying Mutual Funds



## chicois8 (Aug 8, 2009)

From the BajaNomad Board.......


http://finance.yahoo.com/news/fidelity-bans-u-investors-overseas-230700640.html?


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## lagoloo (Apr 12, 2011)

This article is well worth reading. It's not just about Fidelity, and what's going on in banking is spreading throughout the industry like a virus.


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## Longford (May 25, 2012)

It seems that persons who've reached at least the traditional (for the USA/Canada) retirement age and who reside in Mexico and no longer have a residence in the USA will be minimally impacted because employer-sponsored 401k retirement accounts appear to me to be excluded from Fidelity's policy change. But, yes, the noose is tightening, referring to financial reporting/practices and many expats may not want to deal with all of these new and future regulations.


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## kcowan (Jul 24, 2010)

This has been in effect between Canada and the US. You can continue to hold investments but no changes can be made. This is true with USians living in Canada and Canucks living in the US.


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## Isla Verde (Oct 19, 2011)

kcowan said:


> This has been in effect between Canada and the US. You can continue to hold investments but no changes can be made. This is true with USians living in Canada and Canucks living in the US.


Since when has it been in effect?


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## kcowan (Jul 24, 2010)

Isla Verde said:


> Since when has it been in effect?


It is part of the tax treaty. I think for a long time because buddies who worked on US assignment from Canada experienced it decades ago. 

The thing is that the Investment House has to know you are no longer resident. I have heard of US expats in HK who still make trades on their US accounts. But they get cut off as soon as the house knows.

(Why you can't I don't understand. I mean it is about changing the makeup of the account, not moving money in or out.)


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