I've got several foreign accounts I need to deal with for my IRS return and know that apart from declaring the income from them on the return itself they all need to be declared on an FBAR/finCEN (as the amount exceeds 10000).
Additionally there is the 3520/3520A for my TFSA and 8891 for my RRSPs.
But additionally I have a trading account with Questrade in Canada which currently only holds cash, but previously has also held shares/stock, and also some gold.
How would IRA classify this account? My main concern is if they might classify it as a trust and I have to do 3520 for it. Or do IRS only consider TFSAs as trusts?
Have any or you had to declare stocks/shares account for IRS
Moderator: Mark T Serbinski CA CPA