This question has raised its ugly head again, only due to the IRS text stating having you can have a 'financial interest' in an account and not necessarily have signature authority...
so here it goes again...one final time;
Does a Canadian Defined Benefit Plan have to be listed on the FBAR?
Defined Benefit plan on FBAR!
Moderator: Mark T Serbinski CA CPA
No, a Defined Benefit Pension Plan (DBPP) in Canada does not have to be put on the FBAR. Only the 8938 if you surpass the threshold to prepare.
Only if you have a Defined CONTRIBUTION Pension Plan (DCPP) in Canada would you have to worry about FBAR.
I've been through this with very reputable knowledgeable professionals and their interpretation is clear.
Only if you have a Defined CONTRIBUTION Pension Plan (DCPP) in Canada would you have to worry about FBAR.
I've been through this with very reputable knowledgeable professionals and their interpretation is clear.