This is driving me crazy! There must be tens of thousands of people in Canada having to report their RRSPs on Form 8938, yet I can't find a simple straightforward answer as to how to fill form 8938. So let's consider a very simple example. Let's say I have an RRSP at BMO (Bank of Montreal). Here is my attemp at filling in the correct information in Part VI of form 8938:
Line 1: Bank of Montreal RRSP [That was easy]
Line 2: 123454321 [That was easy]
Line 3a: Various [Since contributions to the RRSP were made at different times]
Line 3b: Non applicable [That was easy]
Line 3c: I do not check the box [That was easy]
Line 3d: I check the box [That was easy]
Line 4: Check the appropriate box [That was easy]
Line 5: Yes. [That was easy]
Line 6: Easy
Line 7: Instructions say to skip line 7 for RRSPs.
Line 8: What do I have to write here? My RRSP is just a simple basic RRSP with Bank of Montreal. Its content: various BMO mutual funds.
Line 8a: Do I write "Bank of Montreal"? Do I check the box for "Issuer"?
Line 8b: Corporation?
Line 8c: Foreign person??? Or I check none of the 2 boxes?
Lines d and e: The BMO address found on my quaterly reports?
Thank you for your help!
How to report RRSP on Form 8938
Moderator: Mark T Serbinski CA CPA
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- Posts: 7
- Joined: Mon Feb 23, 2015 3:18 pm
- Location: Quebec
How to report RRSP on Form 8938
KiwiCanuck in Quebec City
Re: How to report RRSP on Form 8938
[quote="kiwicanuck"]This is driving me crazy! There must be tens of thousands of people in Canada having to report their RRSPs on Form 8938, yet I can't find a simple straightforward answer as to how to fill form 8938. So let's consider a very simple example. Let's say I have an RRSP at BMO (Bank of Montreal). Here is my attemp at filling in the correct information in Part VI of form 8938:
Line 1: Bank of Montreal RRSP [That was easy]
Line 2: 123454321 [That was easy]
Line 3a: Various [Since contributions to the RRSP were made at different times]
Line 3b: Non applicable [That was easy]
Line 3c: I do not check the box [That was easy]
Line 3d: I check the box [That was easy]
Line 4: Check the appropriate box [That was easy]
Line 5: Yes. [That was easy]
Line 6: Easy
Line 7: Instructions say to skip line 7 for RRSPs.
Line 8: What do I have to write here? My RRSP is just a simple basic RRSP with Bank of Montreal. Its content: various BMO mutual funds.
Line 8a: Do I write "Bank of Montreal"? Do I check the box for "Issuer"?
Line 8b: Corporation?
Line 8c: Foreign person??? Or I check none of the 2 boxes?
Lines d and e: The BMO address found on my quaterly reports?
Thank you for your help![/quote]
Did you ever figure this out. I am interested in knowing the answer as well.
Thanks
Line 1: Bank of Montreal RRSP [That was easy]
Line 2: 123454321 [That was easy]
Line 3a: Various [Since contributions to the RRSP were made at different times]
Line 3b: Non applicable [That was easy]
Line 3c: I do not check the box [That was easy]
Line 3d: I check the box [That was easy]
Line 4: Check the appropriate box [That was easy]
Line 5: Yes. [That was easy]
Line 6: Easy
Line 7: Instructions say to skip line 7 for RRSPs.
Line 8: What do I have to write here? My RRSP is just a simple basic RRSP with Bank of Montreal. Its content: various BMO mutual funds.
Line 8a: Do I write "Bank of Montreal"? Do I check the box for "Issuer"?
Line 8b: Corporation?
Line 8c: Foreign person??? Or I check none of the 2 boxes?
Lines d and e: The BMO address found on my quaterly reports?
Thank you for your help![/quote]
Did you ever figure this out. I am interested in knowing the answer as well.
Thanks
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- Posts: 7
- Joined: Mon Feb 23, 2015 3:18 pm
- Location: Quebec
Line 8 was the only part where I was hesitant.
After more time spent searching and reading, I decided to go as follows:
Line 8a: "Bank of Montreal" and I check the box for "Issuer".
Line 8b: "Corporation".
Line 8c: "Foreign person".
Lines d and e: I used the BMO address found on my quaterly report (which is the address of my local branch).
After more time spent searching and reading, I decided to go as follows:
Line 8a: "Bank of Montreal" and I check the box for "Issuer".
Line 8b: "Corporation".
Line 8c: "Foreign person".
Lines d and e: I used the BMO address found on my quaterly report (which is the address of my local branch).
KiwiCanuck in Quebec City