Serbinski Accounting Firms

Thanks Nelsona, yes not good idea, and cannot take full credit... Sad...

However I don't think I could use the first year 8891 value (back filed) since it was more than the moving date value. At meantime, I cannot support or estimate which value I could use, so decide to report all. Not good idea ...

Oh yes, I missed that point. But I didn't keep the value record when moving in, may I just use the total distribution amount as taxable income (yes, it is over reported) for simple?

At the same time, I want to use the total distribution amount as foreign source income , total paid CRA tax as ...

Withdraw amount is the number, please correct if I am wrong.

Yes, 8891 line 7(B) and 1040 16 (a) , (b), and 1116 foreign source income and tax paid amount.

So you mean these numbers I should use transaction date to convert (if only one transaction)?

But for TD F and 8938, using year end published rate?

How about the exchange rate?

For 1116, 8891 and 1040 line 16a/b, foreign tax credit and distribution and income, using the distribution date exchange rate?

TD F & 8938, Year End rate?

Quite confused on that, please clarify.

Thanks.

For RRSP foreign tax credit Form 1116, which category of income should be choosen: General Category Income or Lump-sum Distribution?

IRA, 401K has 10% early distribution penalty, how about RRSP? If distribute before 59 1/2 years old, except the 25% foreign tax withholding, does it need to pay IRS 10% penalty?

Thanks. But will CRA send the notification about this SIN was dormant?

Question about the dormant SIN. If the SIN is dormant, will NR4 be any problem for the withholding tax remitted? Wondering the SIN is inactive, what will happen to the withholding tax, bounce back to the bank? If so, how non-resident handle it?

Thanks.

Thanks Nelsona. You saved me!

Thanks Nelsona. Just confirmed with the bank. They said each GIC will have different account number since each GIC has different term and cannot add on. Does it mean I don't need amend my 8891, otherwise, 8891s will be too much complicated, right?

How about TD F, need I correct it to separate to ...

Thanks Nelsona. Some more question. The GIC account is linked to the Mutual Fund account which are both in TD Trust bank. As I know, additional to the Mutual Fund account number, they issue a general account # for GIC, then the ending number will differ if new GIC was purchased or renewed.

If I ...

Hi,

I just found that my RRSP accounts includes two seperate account #, one is for mutual fund and one for GIC. Last year, I mistakely amended my previous tax return for back filing 8891s and TDF only include the mutual fund account number, but for account balance, I reported all balance which ...

thank u nelsona. As I understand, the Statue of Limitation never runs if the return is not filed. How's Canada rule for it? And how many years is the statue of limitation of Canada tax?

You said no need worry, is it mean to the deemed disposition years ago or everything, including the departure ...

I am not clear on the deemed non-resident and deeomed disposition, my situation is: Canadian Citizen, left Canada to US for job many years ago with my wife. My life is in US definetaly from the first moving date. I back to Canada only for visiting parents occiationally. I don't have house in US but ...