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Buying Canadian Stock vs US OTC Equilivant
Posted on 7/8/25 at 7:55 pm
Posted on 7/8/25 at 7:55 pm
I'm looking to buy a stock that's traded on the Toronto Stock Exchange. I can either buy directly on the TSX, or buy "US based" OTC shares. I asked ChatGPT and it mentions TSX share are more liquid and OTC shares potentially have wider spreads.
This will be held in an IRA account with the plan of it being held long-term. Are there any other considerations I should be aware of such as foreign holding reporting? Suggestions?
This will be held in an IRA account with the plan of it being held long-term. Are there any other considerations I should be aware of such as foreign holding reporting? Suggestions?
1
Posted on 7/8/25 at 8:19 pm to CubsFanBudMan
I don’t know about OTC stocks, but I know I ran into issues with ENB in my Roth. They automatically withhold 25% for Canadian taxes from the dividends, yet there’s no mechanism to recapture that money in retirement accounts lime you would in a taxable account.
Posted on 7/8/25 at 8:33 pm to lsuconnman
That's something I didn't think about. This is more of a growth stock than a dividend stock, current annual dividend yield is 0.1%.
Posted on 7/11/25 at 11:49 am to CubsFanBudMan
Wanted to bump this to see if there was anyone else that had some input.
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