Serbinski Accounting Firms

Yes, I forgot, it's the FinCen form. The amount I received is $45,000 Cdn. You raised good points. Our family needs a car, so even with the exchange, it would be a helpful amount.

Thanks for all your help for the past decade since I moved from Cda. :)

Sorry, one more question. Since the exchange rate from Cdn$ to US$ is paltry, I plan to leave the money in a Canadian bank account that I've kept since leaving Canada.

Do I have to report the money on 90.22.1 form?

Thank you.

Yes, my RRSP account is with a self-directed Canadian bank and they know that I'm a US resident. I will check with them. Thank you.

Good day I live in the USA and am a US resident and Canadian citizen. My Canadian elderly mom is distributing her bank accounts to her children. I received a substantial gift, under $100K. I still have Canadian bank accounts. Can I deposit the account in Canada and leave it there? How do I avoid hig...

Thank you for your reply, Nelson. I know that Canada does not do that, but it's scary living in the USA knowing that we'll get taxed no matter where we live if we all are US citizens. I've read that many US citizens living abroad are giving up their US citizenship to avoid paying heavy annual taxes....

Hi, I'm a Canadian citizen living in the US for almost 5 years. My husband recently suggested that I should become a US citizen now (dual citizen). However, I'm not totally convinced about that. Since I do the taxes, when I first moved here, I read something frightening about IRS worldwide taxation....

I just did ... and it seems that maybe my eyes didn't read the entire line.

Thanks very much. Sorry for wasting your time.

Hi Nelson, The pdf TDF 90-22.1 form that the IRS has on their website says, "do not use this form after December 2008". We're in 2010, completing that form for the 2009 tax year. Did the IRS just forget to update the note? Should I use that form as it is? I still have time to complete this...

Hi, I probably know the answer, but I'm asking anyways. I'm a Canadian in the US since 2005. I own RRSPs, Canadian bank chq. & savings acounts, a credit card and a $10,000 personal line of credit account. I dutifuly filled in my 8891 and TD F 90-22.1 annually. This month we are, unfortunately, i...

Hi, I completed our 2008 return via TurboTax last week and efiled for the first time. While doing my TDF 90-221.2 forms, I noticed that my 8891 forms (3 of them) which were part of the efile, have blank boxes where I think there should be a "0". For example, on my TDW 8891 form, boxes 7a a...

Hello, we are residing in the US. I am a Canadian citizen; my husband has a Canadian Permanent Residence Card. We both now have our Green Cards. On a recent visit to Canada, my husband was advised to surrender his Canadian PR card to the consulate. My husband contacted them, but the information prov...

I think QuickTax is the way to go. It wouldn't seem right for me to get a refund. I still don't understand why Ufile would calculate a refund for me.

Hello Nelson I used QuickTax and Ufile to calculate my Cdn. return for the T4RSP I received as a non-resident. Each gave me different results for the same T4RSP, and I'm perplexed. Their support phone lines aren't much help. Quicktax tells me I have to pay; Ufile tells me I get a refund. I tend to t...

Hello Thank you for a very informative forum. I am a US resident since 2006. I left Canada in 2006 and completed my final Canadian return for 2006. I have been filing joint 1040 forms with my husband and have submitted the 8891 and TDF forms for my Cdn. stuff. I closed a small RRSP account for which...