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You will get a sticker in the mail to put in your original Aviation Document Booklet when you get additional medicals, ratings, or IR renewals.You will not lose your FAA certs and the two are completely independent of each other. No sheppard-air style, old fasioned study the big book kind..If you possess a foreign pilot certificate and wish to obtain an FAA ATP license on the basis of that certificate, you will need to obtain a Letter of Certificate Verification from the FAA.The process is simple, but can take up to 30 days to complete.If you get a FAA 61.57(d) IPC endorsement it is accepted for your TC IR requirement under the same Conversion Agreement between the FAA and TC, which is the document everyone you speak to will refer to.Here is the excerpt: (3) Pilots holding a TCCA pilot licence with an instrument rating converted from a FAA certificate with an instrument rating may also meet the requirements of CAR 421.49 [Renewal of Instrument Rating] by having passed an FAA instrument proficiency check [14 CFR - 61.57 (d)] within the previous 24 months in an airplane or an approved flight simulation device.
Get your medical first, I simply took my medical with my same FAA AME that I always have and mailed an original signed duplicate into the TC Medical office for review and acceptance (with application).
On the FAA side, you don't get a 61.75 certificate and you can get it at the commercial or ATP level.