How to transfer shares/stocks from US Investment account to Canadian Investment account

Yves Beaupré

I am trying to transfer stocks between US investment account to Canadian Investment acccount.

When I attemp this I am indicated to transfer to an account that has the same currency,

How do I get over that. I just want to transfer a stock.

Thanks

Chris_QPW

"Remove Shares" doesn't remove transactions, it adds a transaction to remove the shares from that date onward.  If one is looking at the data of that account before the date where the remove shares transaction is, you will still get all the same numbers you have always had in that account.

Chris_QPW

Yves Beaupré said:

Hi,

I understand the principle you are describing. However if I remove a security from my US account and add it later to the my Canadian account I will lose all associated data for that sewcurity. For example Gain/Loss, Gain/Loss %, ROI %, ROI % YTD, etc.

Circling back to this statement.  When you use add shares you can give a cost basis, and as such Gain/Loss fields will be accurate if you enter that information correctly.

As for ROI, unfortunately that is calculated from the transactions.  And since the new account doesn't have all the transactions, it will not be calculated correctly.  This is would have been true even if "Transfer Shares Between Accounts" between accounts would work.  Only actually moving all the transactions from one account to another would allow such fields to be correct, but like I said that is impossible.  You can't hold USD securities in a CAD account.

Chris_QPW

My wild guess would be that it is impossible (direct move/transfer of the security).

When you create a security with multiple currency on, the security created gets the currency associated with it.  So, IBM (USD) isn't the same security to Quicken as IBM (CAD).  And there is the restriction that an account that is USD can only hold securities that are USD.  And an account that is CAD can only hold securities that are CAD.

The "Transfer Shares Between Accounts" assumes that the security(s) are the same in both accounts.  What's more even if it allowed it, it probably would do it wrong.  What "Transfer Shares Between Accounts" does is a remove shares from the old account and add shares in the new account with setting the cost basis.  The cost basis would have to be converted to CAD and who knows what the proper exchange rate would be?

In the same vein, you can't use the new Move Transactions on the gear icon menu (if the Canandian version has this) because again you can't move USD securities into a CAD account, and what's more they need some kind of conversion to CAD securities.

So, I think the only thing you can do is a remove shares from the old, and an add shares to the new one providing your own cost basis.

Yves Beaupré

Hi,

I understand the principle you are decribing. However if I remove a security from my US account and add it later to the my Canadian account I will lose all associated data for that sewcurity. For exemple Gain/Loss, Gain/Loss %, ROI %, ROI % YTD, etc.

Note also that when I transfered US cash to a Canadian account, I was promted to enter the % transfer rate. Why is there a difference between transfering a stock as 1 for 1 and US cash as 1 for xxxx%.

Is there another work around other then Removing from US account and Adding to a Canadian account?

Thanks,

Chris_QPW

"Remove Shares" doesn't remove transactions, it adds a transaction to remove the shares from that date onward.  If one is looking at the data of that account before the date where the remove shares transaction is, you will still get all the same numbers you have always had in that account.

Ps56k2

Yves Beaupré said: I am trying to transfer stocks between US investment account to Canadian Investment acccount.

just to clarify - which version of Quicken are you running ..... US version or Canada version ?

And... are you also doing this in the real world - transferring from a US brokerage to a Canada brokerage ?

Chris_QPW

Yves Beaupré said:

Hi,

I understand the principle you are describing. However if I remove a security from my US account and add it later to the my Canadian account I will lose all associated data for that sewcurity. For example Gain/Loss, Gain/Loss %, ROI %, ROI % YTD, etc.

Circling back to this statement.  When you use add shares you can give a cost basis, and as such Gain/Loss fields will be accurate if you enter that information correctly.

As for ROI, unfortunately that is calculated from the transactions.  And since the new account doesn't have all the transactions, it will not be calculated correctly.  This is would have been true even if "Transfer Shares Between Accounts" between accounts would work.  Only actually moving all the transactions from one account to another would allow such fields to be correct, but like I said that is impossible.  You can't hold USD securities in a CAD account.

Yves Beaupré

Note I use the Canadian version

Valderi

Here's what I would do: You "sell" fictively your shares and put the money in your investment cash account. Then, you transfer the US money from this cash account to your Canadian investment cash account and you add the exchange rate. From there, you buy Canadian shares.