Hello Pros ,
I have been looking around to find the answer and getting confused so looking for some guidance here.
I have RRSP saving account in Canada and wanted to know if this has to be reported in FBAR. It's a saving account so does a little interest earned also needs to be reported when filing taxes and where (if needed)?
Thanks in advance
RRSP reporting on tax and FBAR?
Moderator: Mark T Serbinski CA CPA
If your RRSP plus any other non-US accounts are valuesd more than 10K, then all your foreign accounts need to be reported in FBAR. if your foreign assets total more tna $100K, then your may have to file FATCA report.
The income generated internally in your RRSP is not taxable on 1040 until you take money OUT of your RRSP.
The income generated internally in your RRSP is not taxable on 1040 until you take money OUT of your RRSP.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing