This is a valid question that has real-world repercussions. It bears on the requirements of the US FATCA law and what potential actions one can expect from banks in the US, as well as in Canada, in the OP’s case. Unless you are resident in Iran, or some small country in Africa whose name I forget, all other nations have signed treaties with the US to abide by FATCA reporting requirements, which are onerous. For example, I notified my US bank that my portable number was now a French number (because it was tiring switching SIM cards for two-factor logins to my bank’s site). They thanked me for the update, and told me they would be closing my account in thirty days because I was resident in a foreign country. Here in France, I was working on a business venture and, with an accountant, made a business proposal for a loan to my bank here. I have dual-citizenship US & EU, so my bank here knows me as an EU citizen. Everything was going well, until they noticed that I had funds coming from the US. They declined categorically to do business with me because the US funding imposed unreasonable requirements on them. I’m sure if I was Apple, it would be worth the risk, but not in my case. So this question is pertinent to all American expats. The FATCA issue is complex, so I suggest you seek out professional assistance.