Serbinski Accounting Firms

I don't think a non u.s subscriber/contributor withdrawing EAP and then "writing a cheque" to a u.s beneficiary child eliminates the obligation of the U.S beneficiary child to report the existence of the RESP and distribution activity on their U.S tax return . That would be great but I thi...

Right.

What I meant was that I would have to report the distribution on Form 8606 (Part III) attached to 1040-NR. There wouldn't be any taxable amount to carry over to 1040-NR.

Yep. In our case, that is an RBC U.S bank account. Out of curiosity, I went as far as setting up a link between the Roth IRA account @ Fidelity and our RBC US bank account online. I followed the process through to the final step before making a withdrawal/transfer. Interestingly, the system asked if...

We are Canadian (not U.S) citizens who moved back to Canada in 2012 after spending 7 years working in the U.S. When we left the U.S, we each had a Roth IRA account with Fidelity who we did make aware of our move. I have not had any issues at all maintaining our Roth IRA accounts @ Fidelity online. I...

Thanks. I was pretty sure he was ok on the FBAR thing. I was worried about other forms like 8938 or some other form I've never heard of. He'll be well below the 1040 filing thresholds for several years. If anything else "reporting related" is tied to him filing a 1040 then we're good for n...

Hi, Not strictly a can/us tax issue but I'm wondering if my 8 year old son (U.S citizen residing + growing up in Canada) opens his first "plain old savings account" with a Canadian bank, does that trigger any U.S filing obligations for him re: FATCA? I've looked around and it seems he'd be...

So now I'm thinking I can't claim an exemption for her... because she claims an exemption for herself on her own 1040-NR. That make sense to me.

Let me know if I'm wrong!

My wife and I live and work in Canada and file separate 1040-NR returns to report income from a jointly owned rental property in U.S. I report a small amount of U.S sourced income for work done while physically present in U.S. My wife has no U.S sourced employment income (no trips, no visa..nada). W...

Thanks. No withholding on dividends is definitely part of the plan.

typo..
[i]
If I hold U.S dividend stocks/etfs in an RRSP, do I need to disclose this on my 1040-NR and/or otherwise file any additional paperwork?[/i]

I have what I think is a pretty simple question. I am CDN citizen, living and working in Canada who files 1040-NR (for rental property in U.S). If I hold U.S divided stocks/etfs in an RRSP, do I need to disclose this on my 1040-NR and/or otherwise file any additional paperwork. I think no but just w...

Update: Option 1 worked. I received the refund deposit yesterday. So the additional child tax credit is "free money" available to a non USC who works for a CDN employer, lives in Canada with USC children and intermittently (rarely) travels to the U.S for work. For best results, don't earn/...

The instructions for T1135 state.. Specified Foreign Property does not include: an interest in a trust described in paragraph (a) or (b) of the definition of "exempt trust" in subsection 233.2(1); Paragraph (a) of 233.2 (1) describes "a trust that is governed by a foreign retirement a...

I mailed the "Option 1" return today. I'm crossing my fingers and waiting for cash to appear in the bank.

Ok. I can certainly appreciate that less is more here.