# Canadian B/D question

**URL:** <https://talk.achievable.me/t/canadian-b-d-question/3910>\
**Category:** FINRA Series 65\
**Created:** [August 26, 2023, 5:18pm UTC](https://talk.achievable.me/t/canadian-b-d-question/3910 "2023-08-26T17:18:00Z")\
**Posts on this page:** 2\
**Page:** 1

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**Author:** ![Hungry\_turquoise\_par](https://talk.achievable.me/letter_avatar/hungry_turquoise_par/32/6_22734026db12803ebb3e059622ac3534.png) [@Hungry\_turquoise\_par](https://talk.achievable.me/u/Hungry_turquoise_par)\
**Post date:** [August 26, 2023, 5:18pm UTC](https://talk.achievable.me/t/canadian-b-d-question/3910/1 "2023-08-26T17:18:00Z")

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[Achievable](https://app.achievable.me/study/finra-series-65/quiz/TRHMD#seed=7WD64&slug=which-of-the-following-statements-regarding-canadian-broker-de)…

Hello, would you please help me understand Canadian B/D? thanks.

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**Author:** ![Justin](https://talk.achievable.me/user_avatar/talk.achievable.me/justin/32/41_2.png) [@Justin](https://talk.achievable.me/u/Justin)\
**Post date:** [August 26, 2023, 6:56pm UTC](https://talk.achievable.me/t/canadian-b-d-question/3910/2 "2023-08-26T18:56:44Z")

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Hi, I’m happy to help - what part of the explanation could use more clarification?

> Canadian broker-dealers may claim a limited form of registration with any state in order to offer its services to Canadian clients residing in the United States. There are two different circumstances to be aware of:
> 
> - Canadian clients temporarily visiting the US
> - Canadian clients permanently residing in the US
> 
> _FYI - Canadian broker-dealers must obtain full registration if offering any services to American customers in the US_
> 
> **Canadian clients temporarily visiting the US**  
> If a Canadian client travels to the US for 6 months or less, Canadian broker-dealers can file for a limited form of registration with the state the client is located in. The broker-dealer will file an application with the appropriate Canadian regulator (also known as an SRO - self-regulatory organization) and a consent to service of process with the state administrator. Additionally, the state administrator may request the broker-dealer provide their books and records.
> 
> **Canadian clients permanently residing in the US**  
> This rule primarily applies to dual resident clients that primarily reside in the US. Canadian broker-dealers may only offer services related to Registered Retirement Savings Plans (RRSPs), which are similar to Individual Retirement Accounts (IRAs) in the US. Additionally, the broker-dealer must file the same documentation listed in the section above to gain limited registration.
> 
> If the Canadian broker-dealer maintains ongoing limited registration, they must periodically renew their registration. Unlike US broker-dealers that must renew annually by December 31st, Canadian broker-dealer must renew annually by December 1st.