Search found 3 matches
- Tue Mar 31, 2020 1:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Life Insurance Canada Segregated Fund
- Replies: 8
- Views: 3239
Re: Life Insurance Canada Segregated Fund
I do have a cross border life and still work in the US so I can't really ignore the requirements.
- Tue Mar 31, 2020 10:06 am
- Forum: Canada / United States Tax & Accounting
- Topic: Life Insurance Canada Segregated Fund
- Replies: 8
- Views: 3239
Re: Life Insurance Canada Segregated Fund
Yes, US citizens are required to file tax returns. I am getting conflicting advice on a Canada segregated fund with a Life insurance company and want to make sure that I report this correctly to avoid huge penalties. I am being told this should be reported as a trust with form 3520. If so do I also ...
- Mon Mar 30, 2020 4:44 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Life Insurance Canada Segregated Fund
- Replies: 8
- Views: 3239
Life Insurance Canada Segregated Fund
Hi. I am a dual US/CANADA citizen living in Canada and I am getting some conflicting information in regards to an investment I have in a segregated fund. The conflicting information is whether to report this as a trust (form 3520) or PFIC. Can anyone confirm if a canada segregated fund is considered...