how to correct unreported accounts with fbar

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frank_m
Posts: 1
Joined: Tue Apr 15, 2014 11:09 am

how to correct unreported accounts with fbar

Post by frank_m »

I thought I was exempt from filing because of the accounts being less than $10K or in an rrsp. But now I hear otherwise from a colleague that the 10k threshold is not per person.

THe details: I'm US citizen/resident who moved from canada in the 90's
my wife worked in canada in the mid 90's. Has a $20K RRSP in her name.
I have an account worth $9000 in a mutual fund. (It was $2000 when I left canada in 1990.) I pay canadian tax that is withheld and don't report income or claim any deduction on the tax.

When I first moved it was taking as long to do the special forms to report this as the rest of my taxes. I did it for a couple of years but it wasn't making a significant difference - so I stopped.

Looking for advice on the procedures to rectify the situtation.
SpencerEden
Posts: 1
Joined: Thu Apr 24, 2014 2:02 am

Post by SpencerEden »

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