Agnico Eagle Mines Ltd T.AEM

OT > Watch out for the IRS (with holding Taxation) !

[TimeBuilder]

A little venting ( it helps).
A lesson well learned so .. NO USA direct investing by this pure CDN investor ( only dual listed holdings) eg AQN.T AEM.T ..
Very difficult to completely understand & control, besides working/managing with just ONE country is hard enough over the years & the CRA loves our scheduled / forced payments. Makes NO sense for us to get the IRS involved in our portfolio's & investments.  IMO
We call our approach as   K.I.S.S. O.F.F.  ( Keep It Simple Son Or Financial Failure)
Works very well for us over the years BUT each to there own plan. ;>).
Note: over the many,many years ..we have found that you are never too OLD to learn
BUT the secret is to remember just what you have learned & then put it into practise.
IF not as you age you must write down your lessons or
post them into a file so you do not forget them.. ;>O
No fun getting OLD but what is the alternative ? A box & some dirt ! LOL
Thanks for viewing..Feel much better NOW
just having a BAD spending Day..
TimeBuilder..

[DudeRancher1953]

AEM is listed in Canada and the US and reports in US dollars and pays a dividend in US dollars however it is, for tax purposes, a Canadian Corporation so no withholding taxes are applicable for Canadians. It doesn't matter whether to hold the shares in a Canadian account or a US account. Anyway that's the way I see it.

[Quintessential1]

Yeah, you are mistaken.   https://www.moneysense.ca/columns/ask-a-planner/tax-planning-for-canadians-who-invest-in-the-u-s/ Read uo and GLTA

[chuck8]

The business address is Toronto. Like many other miners, they have a listing on the NYSE. If you buy a canadian company listed on the tsx. When I receive my dividends I get them in Canadian funds. Duderancher is 100% correct.

[Quintessential1]

Yeah, I think the question is, can you hold the shares in a US account in US funds on the NYSE, get paid the dividend in US dollars to your US account and not have the IRS withhold taxes?

[DudeRancher1953]

I currently only own AEM in an RRSP where no withholding taxes are applicable. However I have owned KL on the US side of a TFSA and dividends were all paid without any withholding taxes. Note that TFSAs are not exempt from US witholding taxes on divs from US companies however KL was considered a Canadian company. The fact that it paid the dividend in US dollars is irrelevant. I believe that AEM is

[Quintessential1]

It does indeed help and would appear that I am the one who is mistaken.  Happy to be wrong as I am already thinking about which Canadian stock I would like to hold in American funds in my TFSA. GLTA