Chapter 04 · Sale
Repatriating Funds After Sale: USD to CAD
Process, fees, and tax considerations for repatriating USD sale proceeds to Canada.
Direct answer · 60-second summary
The 60-second version
- Closing: net funds in USD (title)
- International wire to Canada (2–3 days)
- Exchange rate = daily bank rate
- Wire fee: $15–$50 USD
- Canada: convert USD to CAD
- CRA: report exchange, gain/loss
- Schedule 3: forex gain USD/CAD
- Capital gains tax on USD gains only
Acronyms used in this guide
- CRA — Canada Revenue Agency
- Schedule 3 — Schedule 3 (capital gains Canada)
- FIRPTA — Foreign Investment in Real Property Tax Act
Closing funds: title company
Title company wires net funds (USD) to seller post-closing. Check or direct wire available. Seller arranges repatriation.
International wire USD to CAD
Best option: wire (ACH/SWIFT) from US bank to Canadian bank. Timeline 2–3 days. Fees: $15–$50 USD US side, possible receive fee Canada side.
Daily exchange rate
Exchange rate applied = Bank of Canada daily rate (Valet API). Can vary 0.5–2% per day by currency flows. Lock rate if concerned about volatility.
Canadian tax considerations
CRA: real estate gain = USD sale price - adjusted USD basis. Tax at 50% inclusion if Canadian resident. USD/CAD forex = forex gain/loss (Canada forex exemption = $200 limit).
Every figure, rate, threshold, and deadline in this guide is drawn from a verifiable primary source listed at the bottom of the page. The article is updated whenever the underlying rules change, with a fresh review date stamped at the top.
Sources and references
Disclaimer
This guide is for educational purpose only.
For concrete decisions, consult a licensed attorney.