Serbinski Accounting Firms

Hello, I am a Cdn Citizen who was a GC Holder, but I moved back to Canada a few years ago (filed for a re-entry permit). Decided to stay in Canada long-term, so I filed my I-407 in Jan 2023. I am filing a 1040NR for 2023. Do I still need to file my FBAR for 2023 since I was a US person for part of t...

Thanks Nelsona! The slip wasn't available online, but I contacted my bank (RBC) and they were able to provide me a 1042-S slip.

Others can try the same if they're running into the same issue.

Thanks Nelsona. I tried this but it's not letting me e-file the return because it expects a 1042-S with a matching withheld value. My canadian broker didn't issue a 1042-S to me (only a T5 with the foreign tax paid amount on Box 16). Not sure if I should "convert it" into a 1042-S by manua...

Hello, I am a Cdn citizen living in Canada who will be filing a 1040NR this year. I gave up my green card Jan last year, and I do not meet the criteria for the exit tax. I have US rental incomes and some W2 income from stock grants from previous years. I have transferred my brokerage account to RBC ...

I called into Schwab (international account) today and based the conversation I had with the representative, they are saying that they can maintain (and even open an IRA acct as long as you have a SSN) after a US Person moves to Canada. However, they said the account would be limited to selling only...

Will give it a try. Thanks Nelson!

I was investigating if Schwab would allow me to hold an IRA as a Cdn Resident. This is only via chat, but based on this response, he is saying no. This seems inconsistent to what others have found.. I find it difficult to know if I am speaking to a rep who just doesn't know the policies or if I shou...

Thanks for the reply! Regarding (2) - I think it's very difficult to get a written statement from my brokerage confirming this. I am with Fidelity. It's almost as if they don't want to be caught saying something on paper. I just tend to get transferred around when I call in. Did you have success get...

I am a US GC Holder who is moving back to Canada. I am soon going to be giving up my GC as I plan to stay in Canada permanently. I have an IRA / Roth IRA account in the US which I plan to hold in the US until I retire. I have not made contributions to my Roth IRA since becoming a Cdn Resident. From ...

Hello Nelson, For this scenario, I am curious about the foreign tax credit cause I am in a similar situation (GC holder working in the states with tie breaker going towards Canada). So I'm filing as a resident of Canada & also a 1040. For employment income, it is US sourced, so on the Cdn return...

jixca wrote: > After spending the weekend reading thru the non-resident return guide, I > got a better understanding of the reporting requirements. > > Basically, one reports the prorated US-wages to CRA and pay the federal and > provincial taxes. The only difference with a resident return is not > ...

Thanks Nelson. I have a couple of rental properties in the states. Then I have my investments accts/credit cards/bank accounts/car/drivers license. I'm not employed in Canada yet and I haven't taken any steps switch anything over yet. Initially I was hoping that my stay can be considered a 'visit' t...

Thanks Nelson. That clears it up. Apologies for the confusion earlier - Yes you're correct, she will not get her GC immediately. I meant that we are in the process of filing the Form I-130 so we start the 2-year wait. We do have intention of moving to + living in the states once she gets her green c...

Hello Nelson, I have a very similar question to the original poster. I am a Cdn citizen who left Canada to the US 8 years ago. I severed my ties with Canada and have not been filing taxes in Canada for the previous 8 years. I now have a GC in the US. I was in a long distance relationship with my fin...