Search found 3 matches

by stevek
Tue Mar 31, 2020 1:21 pm
Forum: Canada / United States Tax & Accounting
Topic: Life Insurance Canada Segregated Fund
Replies: 8
Views: 3224

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.
by stevek
Tue Mar 31, 2020 10:06 am
Forum: Canada / United States Tax & Accounting
Topic: Life Insurance Canada Segregated Fund
Replies: 8
Views: 3224

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 ...
by stevek
Mon Mar 30, 2020 4:44 pm
Forum: Canada / United States Tax & Accounting
Topic: Life Insurance Canada Segregated Fund
Replies: 8
Views: 3224

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...