My only concern is that the TD White Paper may be a little out of date (2013), as TD has now upgraded their computer system to allow USD in an RRSP/TFSA account. (Non-registered accounts, were a different system and you were already allowed to hold USD.)
Here's a further explanation that I found from the TD Helps website (where they answer customer questions).
Do you support Norbert Gambit for transfer US Funds from a US Web Broker Account to my CAD Web Broker Account?Here's a review. You will need to complete the following steps.
• Purchase a currency neutral security, such as DLR, in the same currency of the account.
• Call TD Direct Investing at 1-800-465-5463 to journal the investment to your TD Direct Inv esting USD Cash or Margin Account (service is not available online through TD WebBroker, you will have to call)
• The security will now show as DLR.U in your TD Direct Investing USD Cash or Margin Account and display in USD funds
Here's an overview of the rules:
- You must have purchased the security in one currency account before the sell can be placed in the other currency account.
- The purchased security does not have to be settled before placing the interlisted sell order or before submitting a journal request.
- The journal will not be processed until the purchased security has settled (trade day + 3) .