Serbinski Accounting Firms

Thanks, nelsona.

There's a mix of investments in the account. I've never taken money out of it and haven't bought/sold anything within it since moving to Canada. So that's why I assumed "income" and "gain at disposition" would be zero. Does that sound right? (Sorry if this is overly basic.)

I'm reporting a 403(b) account -- because of uncertainty re CRA's new rules. The contributions were all made by my US employer many years ago, while I still worked there. (I did not make contributions myself.) After shrinking a lot in 2008, its value has grown overall since I moved back to Canada ...

Thanks for the fast reply, nelsona.

Under "Long-term Resident defined", Pub 519 says: "You are a long-term resident if you were a lawful permanent resident of the United States in at least 8 of the last 15 tax years, ending with the year your residency ends." (page 22)

"There is also the matter of long-term US residency, even without green card"


If I understood it right, I thought a long term resident was someone who had been a "lawful permanent resident" for a certain amount of time.

Are there situations in which a "long term resident" could be someone who has ...

Thanks rsargent and nelsona.

The vagueness is frustrating. Since I don't like uncertainty, I will definitely file the T1135. Now all I have to do is figure out how the different categories on that form apply to the account.

Thanks nelsona.

I just quickly read the form and the Q/A site for T1135 and did not notice any wording saying that retirement accounts and pension-type accounts are exempt from reporting. I think I'll report it on the form just to be sure. Do you know if the rules have already changed?

Do Canadian residents who own 403b accounts (or 401k's) need to file an election with CRA to defer the tax on these accounts, like they do with Roth IRAs? I have an account which I haven't made any contributions to since I moved back to Canada quite a few years ago. Any growth in the account since I ...

I'm a Canadian citizen and resident. A US citizen who lives in the US wants to pay me to help with his manuscripts. He would send me the papers by email and I would perform writing-related services on them (such as proofing, editing, research, indexing, formatting, etc.) I would then email the ...

Thanks!

This may have been answered on other threads, but I couldn't find the info after searching.

I'm filing a full-year 1040 (resident) for my last year in the US, even though I moved back part way through the year. I had some Canadian income that I've declared and that I've also claimed a foreign tax ...

I moved back to Canada from the US in June 2007 after being on H1B. (No green card.)

If I file a regular full-year 1040 (instead of a dual status alien return) do I need to do anything special to notify the IRS that I'm no longer a US resident after 2007?

(I don't expect to have any US income in ...

Nelsona: You mentioned that claiming a credit for FICA payments involves a treaty over-ride of CRA regulations. Is it necessary to make any special statement or indication on your return that you are using the treaty or claiming FICA payments? (In my case, the US wages I have to declare in CAN are ...

Do I need to do a W-8BEN for my 403(b) with Fidelity? I was assuming they wouldn't need it till the year I start to draw money from the account. And they didn't mention the form when I called to change my address. But it's possible the woman I talked to didn't know about this...

So many details ...

Thanks for the help once again, nelsona. I appreciate it.

When I moved back to Canada last year, I kept my US bank accounts open, and received interest on them after moving. (Can. citizen; was working on H1B.)

Was my bank supposed to have me fill out a W-8BEN, or any other form? I went to my branch to tell them I was moving, and they didn't ask for ...