Search found 70 matches
- Fri Oct 14, 2016 11:40 am
- Forum: Canada / United States Tax & Accounting
- Topic: Taking stab at 3520, -A for TFSA
- Replies: 157
- Views: 209094
There seems to be so much analysis of whether or not RESPs are trusts in Canadian vs. US law. The IRS seems to have no official position on them, and they have been excluded from FATCA reporting. I will just throw this out there for thought: Does the IRS care? Has anyone in Canada had the IRS make i...
- Fri Apr 08, 2016 5:25 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Where Does RESP Withdraw by Student go on his US 1040?
- Replies: 27
- Views: 27001
- Fri Apr 08, 2016 3:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Where Does RESP Withdraw by Student go on his US 1040?
- Replies: 27
- Views: 27001
- Fri Apr 08, 2016 2:52 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Should I apply for Canadian Citizenship?
- Replies: 9
- Views: 4609
I agree with all of the comments above. There is no downside. I was in exactly the same scenario as the OP in the mid 90s. I came close to returning, but ultimately did not. Going through that process is not without an emotional element. You may feel more Canadian, whether you want to or not, while ...
- Fri Apr 08, 2016 2:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Where Does RESP Withdraw by Student go on his US 1040?
- Replies: 27
- Views: 27001
- Fri Apr 08, 2016 1:51 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Where Does RESP Withdraw by Student go on his US 1040?
- Replies: 27
- Views: 27001
MGeorge -- so how do you think this would work then for a US citizen child of Canadian-only citizens? As non-resident aliens, there is no obligation for the owner of the RESP to report to the IRS. However, the child then withdraws and reports to the IRS -- but no income was reported or paid up to th...
- Sun Feb 07, 2016 1:09 pm
- Forum: Canada / United States Tax & Accounting
- Topic: ETFs on US exchanges that run afoul of PFIC rules
- Replies: 0
- Views: 2051
ETFs on US exchanges that run afoul of PFIC rules
Regarding what US expats can safely invest in, the article here: http://profile.rbcwealthmanagement.com/mark.thompson/page_53811 says the following: "Alternatively, if you want mutual fund type investments, you can invest in exchange-traded funds (ETFs) trading on the NYSE as they are generally...
- Thu Oct 04, 2012 7:58 am
- Forum: Canada / United States Tax & Accounting
- Topic: Upcomung change to 8891 instructions -- URGENT
- Replies: 16
- Views: 12022
- Mon Nov 15, 2010 2:19 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs and US taxes
- Replies: 39
- Views: 29004
- Mon Nov 15, 2010 2:17 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs and US taxes
- Replies: 39
- Views: 29004
- Mon Sep 13, 2010 9:56 am
- Forum: Canada / United States Tax & Accounting
- Topic: Foreign Trust
- Replies: 1
- Views: 2282
- Mon Jul 05, 2010 12:20 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Cash Surrender Value of Life Insurance
- Replies: 1
- Views: 2290
- Wed Apr 28, 2010 7:19 am
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 21978
- Mon Apr 26, 2010 1:02 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESPs with U.S Citizen Subsciber--any hope?
- Replies: 32
- Views: 21978
Though I am not a lawyer, it's important for US citizens to keep up with the law on the RESP issue (among all the other issues, such as the all new FBAR-type new filing requirements). Technically, the latest changes on trust law will disallow a simple transfer of your RESP to your Canadian spouse, b...
- Mon Mar 22, 2010 12:21 pm
- Forum: Canada / United States Tax & Accounting
- Topic: RESP's are not trust accounts?
- Replies: 3
- Views: 3393
The answer may depend on whether you're in Canada or the US (or CRA versus the IRS):
http://www.cle.bc.ca/Practice%20Points/ ... criber.pdf
http://www.cle.bc.ca/Practice%20Points/ ... criber.pdf