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by canus56user
Wed Jul 08, 2026 8:45 am
Forum: Canada / United States Tax & Accounting
Topic: Electing full-year MFJ with a closed TFSA: does the §1.6048-5(b)(4) de minimis exemption get me out of 3520/3520-A?
Replies: 0
Views: 70

Electing full-year MFJ with a closed TFSA: does the §1.6048-5(b)(4) de minimis exemption get me out of 3520/3520-A?

Moved from Canada to the US mid-2025. I’m a new green card holder, wife’s a US citizen, and we’re planning to make the full-year election (§6013(h)) so we’re both treated as residents for all of 2025.

My question is on TFSA reporting assuming it is a foreign trust.

Details:
* Wealthsimple robo ...