US Citizens in Canada Suggestions

To avoid paying too much tax (or incurring penalties) here are some of the things to consider:

Minimizing the number of bank and investment accounts on which you have an interest.
Consolidating your accounts and determine if it is necessary to be listed on joint accounts.
Consolidating all RRSP’s into a single account.
Transferring ownership of your RESP to a non-American relative, either a spouse or parent.
Divesting of all TFSA accounts.
Selling off all mutual funds, ETF's, REIT's and replacing them with stocks and bonds.