Serbinski Accounting Firms

nelsona wrote:
> Ok. RESPs and TFSA are NOT PFICs
>
> The investments within them certainly can be PFICs

That makes it very clear :)

Thank you both for the wealth of information.

ND wrote:
> RRSP - no forms
> RESP - no forms (if under $100k for family member limit) but include RESP
> income on 1040
> TFSA - if posit it's not a foreign trust, no forms and answer 'no' on Sch
> B, if report like a foreign trust, file 3520/3520-A and make sure not to be
> even one day late ...

Hello,

Can someone summarize what forms need to be filed every year with respect to RRSP/TFSA/RESP for a Canadian citizen living and working in USA and how much does it usually cost to hire a cross border tax specialist?

Thank you !

Thank you sir !!!

Something interesting I just came across (you probably know this )

https://polaristax.com/resp-and-rdsps-but-not-tfsas-exempt-from-us-information-reporting-requirements/

To Summarize :

1. I have to close both mine and my spouse's TFSA (in red ) [ Just curious...what happens if ...

and if I sold my primary residence before moving, is there any capital gain payable to CRA or can I move my funds to US to aid down payment for a home 2-3 yrs down the lane. Just trying to figure out my options.

Nelsona, if I decided to reside in the state of WA (as suggested by you), By when should I liquidate my TFSA (all in neg returns ATM).

Can I leave my RESP's to grow or should they be liquidated as well?

How long will I be considered a Non Resident alien for US tax purpose if i reside in US ...

I am currently in Quebec ...I believe BC taxes are slightly better off...hence the optimism :)

Thank you Nelsona for the quick reply. I was really hoping you would reply.

I did consider moving to Seattle area with the family. I used to live in the northern Seattle area back in the day when I was single. Truly enjoyed the "no state tax" :)

Unfortunately I'm in a volatile field (Aerospace ...

Hello !

I have a job offer in the northern Seattle area. I will be on TN status. I plan on relocating to southern BC and commuting everyday. Plan to have my family and kids in southern BC (white rock/south surrey area)

I have the following questions

1. Am I right in understanding that as a ...