New York, NY, July 22, 2026 <a href="https://www.globenewswire.com" target="_blank">(GLOBE NEWSWIRE)</a> -- <a href="https://www.globenewswire.com/Tracker?data=2sHbVsMXxGwbfU_USU8tpToenyob8uRfWvwidz0bE7YvnTtlGXDFsVSjWZFE8XMoTQ9h2xzogBp9Xs91QkdZWxIddI6cPOg00NXAWTP6vU9GgmdlGE6UEBltVISHYx-DUNLSBpr-J7KayvVbYa1Gkj3AUOHhpCKacGXXWOgHj3U=" rel="nofollow" target="_blank" title="Cardinal Point Wealth Management">Cardinal Point Wealth Management</a> is helping cross-border families navigate the complexities of newly proposed U.S. savings vehicles, commonly referred to as “Trump Accounts,” and highlighting the potential tax and planning pitfalls for those with financial ties to both Canada and the United States. In a recent article, Cardinal Point outlines how these accounts—designed to encourage savings through favorable U.S. tax treatment—may introduce unintended consequences for individuals living outside the United States, particularly for <a href="https://www.globenewswire.com/Tracker?data=Kll9WFUlWFwrkVB789Va_DSjbz53NN6C261pvS7HfUZ2KBSY9EUcMYwNxH3XoP3dcm7Vp7x83UDGU_n3ukZ5NhTArB80lziYYTpCCyCQTT1D-pDn0RQJsxgu3ENuV_uWLTR7ttbcT7D7FIqLXysEDksdFybKwmyGvTP6_cdthQSlvdHSiIJQpR2rcmzBXXrFBiqLHJEtRhCXSUK_LIgU9g==" rel="nofollow" target="_blank" title="U.S. citizens living in Canada">U.S. citizens living in Canada</a>. While the structure and benefits of Trump Accounts may appear attractive at first glance, their cross-border implications are far from straightforward. For families straddling both tax jurisdictions, differences in how each country treats these accounts could result in mismatched tax outcomes, unexpected reporting requirements, or even double taxation. One of the key concerns is whether these accounts will receive equivalent tax-deferred or tax-free treatment under the <a href="https://www.globenewswire.com/Tracker?data=QTeeLY-FoR7k3P8A_JQhEBfyWqBjjCutl2aizNvFuFJp-ufKezMDwRgRZam4ot4O-PDY7CcQPV-g0Km8Os42CC8qDsPMb6FRzl0AhmOZ3G5OB8LLqo3gbe_nnI3z7bWR4SmeoQLsFIjw5TXBx_nlvzEPmxp6apNtE6Q0kbRIR0cunQk_Onpg783Az00-XF6VCv8QOH8iC61uYBoEZ6PoEA==" rel="nofollow" target="_blank" title="Canada–U.S. Tax Treaty">Canada–U.S. Tax Treaty</a>. Without specific recognition, income generated within a Trump Account could be taxable annually in Canada, negating its intended benefits. Additionally, individuals may face increased compliance burdens, including foreign asset reporting and potential penalties if these accounts are not properly disclosed. These risks are especially relevant for U.S. citizens living in Canada, who are already subject to complex dual-reporting requirements. Cardinal Point emphasizes that cross-border families should avoid making assumptions based solely on U.S. tax rules. Instead, careful coordination between U.S. and Canadian tax planning strategies is essential to ensure that new financial tools align with broader wealth management goals. The firm suggests consulting with experienced cross-border advisors before opening or contributing to any new type of account. Proactive planning can help mitigate risks, optimize tax outcomes, and ensure compliance on both sides of the border. Key Takeaways <ul type="disc"><li style="margin-bottom:8pt;">Trump Accounts may offer U.S. tax advantages but can create complications for cross-border families.</li><li style="margin-bottom:8pt;">Lack of alignment between U.S. and Canadian tax treatment may lead to double taxation.</li><li style="margin-bottom:8pt;">The Canada–U.S. Tax Treaty may not currently provide clear guidance on these accounts.</li><li style="margin-bottom:8pt;">Additional reporting requirements could increase compliance risks.</li><li style="margin-bottom:8pt;">Professional cross-border advice is essential before adopting new financial strategies. </li></ul> Read the full article: <a href="https://www.globenewswire.com/Tracker?data=-uqlWwfZo9JelCEtTf6yMBbcm1HRLcgItTAqZyJ7q6FHeHdhZQ4PVjAznOU_iX_gyRSLlM9x558RDfz4PSsA0hCH9HpTY7v_648RgfTWC4MAHeABejevEgaZDrDys93vgDn-vSlcBWhz7WlieFcqVkS9h1CRKr2JF5CChc8bHcMLKYtP9-pMglwzsWQmCHyC2eKmXGAraKO8SNixeisiqBx8qensnzfXVopxXbStkPuc5_v5kKMSmUjSj-YYSQRSjkKG57JBg858zbHRKzfbvRwYyPDoJZeiXQDgtyOWWDzdSa_i3V0stbxCJYXC59L45f2OszXaxy_fcyGEuydcVDOdlSfj1MJ2msr2s9cLYiBboCf-hWDyoCXokpk1qXtmFLFEmBE8B4shTC-aoDX4-kGns9ak_w1nM9JMikfy8gM=" rel="nofollow" target="_blank" title="">https://cardinalpointwealth.com/2026/01/26/trump-accounts-explained-a-new-u-s-savings-vehicle-and-why-cross-border-families-must-be-careful/</a> About Cardinal Point Wealth Management Cardinal Point Wealth Management provides integrated financial, tax, and estate planning services for individuals and families with financial ties to Canada and the United States. The firm specializes in helping clients navigate complex cross-border financial matters and is a recognized leader in <a href="https://www.globenewswire.com/Tracker?data=wSpcDnPqMHzU_NMM6YTW6JpiqxwKhRG3axAg5H7XXRLlFhmqLPL4wQOBCFX0fqe9FJ8UfZzSHpLu9sy5Zz4IFDFHwNKXVqP1Xp0P0EI0w1iqBEE9208uEvZ0qrB4UcGZG94ieTQdq2MzoRsSaxRxyBmUPDcshPLgQ-kH3lulfl2VJeQkdi4rUtJANexcbeuH" rel="nofollow" target="_blank" title="">cross-border wealth management</a> and <a href="https://www.globenewswire.com/Tracker?data=QTeeLY-FoR7k3P8A_JQhEB_cdicoNUWz23DoQfPTn60d_pFItIpoERoRFhhmU6nDa7arCMtvxio2fmklZSPpe3YGlivn8K97sRkgtGjn_qAL7hgyW_IwCXfRdWSmITrf4i8Ptblkre4X-zhGggQrAvmipzdYwNHprQ0D7Ujax5cKK-114Fs6G7SrSmITFgOZ" rel="nofollow" target="_blank" title="">Canada U.S. financial planning</a>, Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Media Contact Company Name: Cardinal Point Wealth Management, ULC Contact Person: <a href="https://www.globenewswire.com/Tracker?data=6nP1GBcTtvMMu5wa3KQUj0BikyqOhNsH57Yc2fVrt1pD_8bKfy7bG3jQH71AaMeq4crh_7PMZ5BjC3XnHK71ErnWLMBae2FiTMvCgEBxBQgZZIPMZbWkgeDxlEMc51Iz8mACUb9HkCS6Re7PW0Z6HNIaVDaEAjiYILR2WO8FTgPfTcRAZ16-DcQwRKkp65GjBfATWgmWSm17tcmo8wc9MXmav4McvkWwxsBCsGOPCHqKqSPNyMXHinJy7sfd83xuIkuFzgfK0xv3leuc5Wg-UNb2doRKNFEX-Kb6-ERxPy-RGIJnkFfUi4WoA2yIXgnju89rCYiniFBWtgv7KvrHVSsg82KzQ9IJsJ-I-vXlb00HiaYuvso8uOQ_4f_nh-ButVzVv-vshV7ZobjUIwUkglGNniYeOfA9ObhIOKGsfIKp1IWR4hrvPnrG7eUTUmpRge5CNVFedoAZiU9pmxeZEuE6_LtjBu6fitGG8MUXA81337zDCC13O9-Q2JrlwyUctJGtCmExE409vBJSaNqOPMlFXoJ0wzjmnKtZowhJsvd6v3M3caeEYu3QAe55RHgk8pYmdik5llcqo3RGe5DPh-xpyqE5aCQ2PWYiWtFbikuXsnrw3HhEotYtLOHVS6yGbSHwyAyUpmWPGcLARCPIV059pEYBDT-RHEUNJvT7b_8yDe20cufJb2HekJHbgi55u-y3c-Cdg8zSN4emMIBhinKaOyUI0ZIbJG-6OxLus9leU4BxfiodNJDoV4LDhjnq5sFG6mhmiKMjLEuSQAVs2Of8k2wEMzUUdtuqY6cMU8VUT0ClGhh3mb-SHzUqWr3fA5ZUvetHX_86iLNETwsUywYrYF_70qD6uJWxsrEZI66EXquiX6MNbS6eMpzqakzeB5ZzBOOOSMgA6ANs-phxahdlmkuy3vg9eu1cJZ1s1_ERtlrrvF2drcoBFhhchU4O72b-hmqMmQ81sJFrj11Kn-0LnVBQVf19Xq0hGBn6OFQ=" rel="nofollow" target="_blank" title="Kris Rossignoli">Kris Rossignoli</a>, Senior Private Wealth Manager Email: <a href="https://www.globenewswire.com/Tracker?data=0ONkI5gBzglJDzMMvHyQ4yg36ywf58huZj-f8bGQxvy5fnkSKjmqcl9kGM0t8Ai6K_WUfIsj3YRpr0wIyKw10zvM9JESVbdHvxBf3mYE0OuRddlXyhY3oYHjmD0nAtxYs4vg6sD-mYpk1EXvLhhfG2qy7z8E6AxlJ4uY18OwWpxVAUPNz9DDaY6upM59l6h4IAMQR5CZdNa_O_oSQ3OIutRk4gWhwP-CpNzSBJBWdh4_apmnTe2maIpVVYlmuRcLPsA0tT-MzJbyFsjg7S3odRpALZmQ6X_EdflXlhGOlSxwyyjDZ71IzjX8QjKzmfbi" rel="nofollow" target="_blank" title="info@cardinalpointwealth.com">info@cardinalpointwealth.com</a> Country: USA Website: <a href="https://www.globenewswire.com/Tracker?data=tZ2OmK4ic0xLwmZq7SSsmlY4TV2UjAms0qMflbN6mohQ-dcOwCY7Dwt45tmZq-h0XxlVWYfjNV1nkrAeaJBVxZ8WLNuxrdRcpOG2_7RPW6dAt5RLFLcSr0m_o1UnDjAywf7mQLc2vHNlmFtnBcJT8l4hFHCe_6hBzhhFoR1d8nWZ7qfCiScjhHhPICl2m5Xc_7Qr0oISkqcTRVvs4wJS-OcBGWeJJbIOUVWAFfXSr7P1Unoelq2ouiGHgA8oPTvUDjD0CcJgGkrJtoX5NGVf6P_auxATHHxL_yKl_2zY9DdiyZsEmPnrcvFyMZPrmTSz" rel="nofollow" target="_blank" title="www.cardinalpointwealth.com">www.cardinalpointwealth.com</a> <pre>CONTACT: Media Contact
Company Name: Cardinal Point Wealth Management, ULC
Contact Person: Kris Rossignoli, Senior Private Wealth Manager
Email: info@cardinalpointwealth.com
Country: USA
Website: www.cardinalpointwealth.com</pre> <img alt="" src='https://ml.globenewswire.com/media/MzA3NWUzZGEtMzJkMy00MWVhLWFlMTktZWE5OTJjYmQwZDlkLTUwMDE1NTc4My0yMDI2LTA3LTIyLWVu/tiny/Cardinal-Point-Wealth-Manageme.png' referrerpolicy='no-referrer-when-downgrade' />

Trump Accounts Explained: Proposed U.S. Savings Vehicle Raises Cross-Border Tax Concerns for Canadian-Based Families

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