How to fill in form 8938, part VI, items 8a, b, and c?

[dbaezner]

I'm trying to fill in part VI of form 8938 for my RRSPs and have been scouring the web for simple answers to items 8a, b, and c in part VI. The IRS guides have been no help.

8a. Name of issuer or counterparty: Scotiabank (easy enough)
Then it asks me to check if the information is for an issuer or a counterparty. I assume issuer. [b]Is that correct?[/b]

8b. Choose among various options to categorize the issuer or counterparty, including Corporation or Trust. [b]RRSPs are considered a trust under U.S. rules, yet Scotiabank is a corporation, so I don't know which to check.[/b]

8c. check if issuer or counterparty is a U.S. person or a foreign person. [b]Since Scotiabank is not a person, I don't know if should just leave this blank or choose foreign.[/b]

Any help on this would be greatly appreciated.

Thanks.
Dirk

[K104XYZ]

Hi Dirk, these questions were discussed in this forum a couple of months ago, so you could search the forum if you wanted to see that, and more, about Part VI Form 8938. But the simple answers you want are as follows:

8a. Scotiabank is the issuer.
8b. Scotiabank is a corporation.
8c. Scotiabank is a foreign person. The word 'person' has a broader meaner here than just a literal human-being person.

[dbaezner]

Fantastic. Thank you very much.