Serbinski Accounting Firms

New Rules for RESP and 3520 Forms
New rules have been introduced by IRS through Rev Proc 2020-17. In this notice, owners of certain foreign trusts, and specifically Registered Education Savings Plans (RESP) are no longer required to file forms 3520 and 3520A.

Further if a penalty was assessed or paid for failure to comply with these rules within the past three years, there is now a procedure to have that penalty abated or refunded.

See this for more information: https://serbinski.com/reporting-relief- ... 3520-3520a

Canada / United States Tax & Accounting
This is our main tax information forum which deals with topics concerning Canadians living and working in the U.S., U.S. citizens contemplating working in Canada, and all aspects of Canadian and U.S. income tax and related adminstrative issues.
Moderator: Mark T Serbinski CA CPA

Business & Personal Immigration to Canada
This forum deals with all aspects of immigration to Canada, landed immigrant status, work permits, etc.
Moderator: Ron Liberman

Business & Personal Immigration to the United States
This forum deals with all aspects of immigration to the United States, including visa types, general immigration issues, and U.S. immigration topics.
Moderator: Jim Eiss