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Canada to US Profit Distributions

Marc Ostroff's Profile

We have a Canadian division, and I need to transfer some money from the Canadian entity to the US entity above and beyond what is being transferred via transfer pricing. Our legal firm has provided documentation surrounding intercompany loans, but I want to move it as a profit distribution instead (I understand there are tax consequences to doing so). Any advice on a good resource to detail out the specifics of this transaction? I know how to move the cash, but I'm not sure what paperwork is needed... is a formal Board Resolution sufficient? Is that even needed? And how do I ensure the accounting entries are correct and taxes filed appropriately?


Topic Expert
Wayne Spivak
Title: President & CFO
LinkedIn Profile
(President & CFO, |

I would discuss this with your Accounting/Auditing Firm.


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