Search found 5 matches

by sparkytx
Thu Jun 30, 2011 12:59 pm
Forum: Canada / United States Tax & Accounting
Topic: Private Letter Rulings use on Excluding RRSP holdings
Replies: 32
Views: 24543

Thank you for the reply. That was the way I was leaning.

Today, I received my letter from the IRS welcoming me into the program. I will keep the group updated on my experience.
by sparkytx
Thu Jun 30, 2011 12:34 pm
Forum: Canada / United States Tax & Accounting
Topic: Private Letter Rulings use on Excluding RRSP holdings
Replies: 32
Views: 24543

Private Letter Rulings use on Excluding RRSP holdings

I decided to enter the OVDI program with RRSP and non-RRSP accounts. My accountant recommended a lawyer to file a PLR so all RRSP accounts will be excluded from penalty. The legal costs for that is north of $10,000. Does anyone have experience in having their RRSP excluded with or without a PLR? tha...
by sparkytx
Mon Jun 06, 2011 5:04 pm
Forum: Canada / United States Tax & Accounting
Topic: Backfiling of Canadian Investment Accounts
Replies: 10
Views: 8693

thanks tsanaha! Luckily, my Canadian investor advisors froze all my account when I told them I was leaving the country. (I was not happy at the time) All of the advisors withheld Non Resident Taxes and sent me NR-4 slips but my accounts never knew what to do with them. Do the NR-4 have to be transla...
by sparkytx
Mon Jun 06, 2011 2:45 pm
Forum: Canada / United States Tax & Accounting
Topic: Backfiling of Canadian Investment Accounts
Replies: 10
Views: 8693

Backfiling of Canadian Investment Accounts

I moved to the US ten years ago and have had my tax "professionally" done for the last eight. My three previous accountants did not know what do do with my NR4s and Canadian mutual funds and told me not to include them. Now that I want to file Fbars on the accounts, do I have to pay the 25...
by sparkytx
Fri Jun 03, 2011 2:39 pm
Forum: Canada / United States Tax & Accounting
Topic: the highest aggregate balance of the year
Replies: 171
Views: 129408

It is good to finally find some people in the same situation as me. I moved back to the US ten years ago. When I moved, my bank told me that all my cdn assets are "frozen" since I will be a non resident. Ten years of accountants did not know anything about FBAR and no idea what to do with ...