Serbinski Accounting Firms

Here is the link where I got this.

http://www.irs.gov/businesses/small/int ... 72,00.html

"a statement requesting an extension of time to make an election to defer income tax and identifying the pertinent treaty position; for relevant Canadian plans, a Form 8891 for each tax year and description of the type of plan covered by the submission; and a statement describing: the events th...

Does this mean one only need to backfill 3 years of 8891 + 1040X?

Thanks, you are a big help always. It just seem strange that there is a line #9 "contributions to the plan during the year," but you don't use it to show the amount rolled over from another RRSP or the amount you put in to start the new RRSP. I guess, you use line #9 only during the year w...

1040 Schedule B, Part III, 8 states "did you receive a distribution from, or were you the grantor of, or transferor to, a foreign trust?"

Since RRSPs are considered Trusts, the answer would be yes on 1040 and 1040X?

I searched this site for the answers for quite a while, but still has questions on the paperwork. Question 1: RRSP #1 and #2 already exist., and now the RRSP #1 is rolled over into RRSP#2. The form 8891 #1 would show zero on "distribution" (line 7a and b) and zero on "balance at the e...

I read somewhere that Canadian banks start reporting in 2014.

Just want to be clear.
RRSP of all types are considered securities when checking that box in item 16 of FBAR?

Just want to be clear.
RRSP of all types are considered securities?

For those who have been filing 1040, but did not file 8891 and messed up on the FBAR. Instead of backfiling 8891 + 1040X for six years, how about pay US tax on the RRSP for the last 3 years and elect 2011 as the first year on 8891. The FBAR still has to be amended for the last six years. Advantage- ...

Are RRSP considered securities in FBAR box 16 or only mutual fund RRSP are considered securities?

How could the mother, a Canadian, file a US tax return and what is this $1000 dollar credit?

Here is a question: A mother (Canadian) opens a bank account and adds her daughter's name (a Canadian and US person) to the account, and the mother contnues to file the full Canadian tax on the bank interests (T5 goes to the mother). Would the daughter be considered a joint account owner or having s...

What is the difference between an employer sponsored pension (RPP-registered pension plan) and Locked-in retirement account (LIRA)? What is the difference in reporting? From what I can gather, RPP is not reported on FBAR and 8891. It is reported on 8938. But, LIRA is reported on FBAR, 8891, and 8938...

I am reading the instruction on the rev. 1-2012 version. It appears that no statement explaining the change is needed. No copy of the original FBAR is needed. What is needed is to complete the entire form and include the amended information. This is quite a change from the previous FBAR instruction ...