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I should clarify my question. We will definitely file for the past 6 years. I've read that some filers have used 8891 for years 2002 and 2003, the first two years for us, instead of Rev-Proc 02-23. And in one case, the IRS requested a filer to refile using 8891 after filing Rev-Proc 02-23. What is ...

One more thing to run by you. We've read in a couple of places about tax payers filing 8891 for all six years and in one case, the IRS even requested it for the beginning years for one filer who'd filed Rev Proc 02-23. It makes sense because it easily captures the required data in a form. We are ...

Thanks Nelsona! You've clarified a lot for us. Your time and knowledge is much appreciated.

Thanks for the reply. We'll defer based on the first of the past 6 years and feel comfortable that the previous years before that will also be deferred.

Question about the following comment in this thread:

"If you are US citizen, you became taxable on your RRSP the day you created it. Only the ...

So if we have an RRSP that was started in 1994, do we have to elect the deferal from that 1994 on to avoid paying the taxes on the RRSP? Or just go back 6 years (as stated in other posts) and evoke it on the first of those 6 years to avoid paying tax on the RRSP for those previous years? We've ...

That's enough to convince anybody to get those papers in ASAP!!! So now all we have to do is figure out if we want to take it out now and be done with this whole reporting thing or wait 20+ years for retirement. Obviously we still need to file the 8891 and TD F. Any thoughts on when it is best to ...

Another question. If we intend on collapsing the RRSP this year or the next couple of years, are there any bad implications in electing to defer the taxes this year and past years? I can only see electing to defer taxes as a good choice regardless of when the RRSP is collapsed.

Thanks Nelsona! We'll get the paperwork in right away. Out of curiosity, which is penalized more for not being included in the return, the TD F 90-22.1 or the election of deferral?

My husband is in a similar situation. He's been here since October of 1994 and has always filed Form TD F 90-22.1 (on advice of his immigration lawyer) in reference to his RRSP but has never made an election on his RRSP as he didn't know anything about it. In his case since he's never made an ...