Serbinski Accounting Firms

I think some of the problem using Part VI is that it does not fit RRSPs very well as RRSPs are financial accounts ( as is clearly called in the Fincens/FBARs) yet Part VI is for assets not held in a financial account..... go figure...see: Part VI. Detailed Information for each "Other Foreign As...

the children would need to be registered as USC born abroad. http://toronto.usconsulate.gov/service/consular-report-of-birth-abroad.html If your child was born on or after 11/14/86, and only one parent was a U.S. citizen at the time of the child's birth, the child may have acquired U.S. citizenship ...

tdott's post is similar to my first post: that you may have relinquished your USC in 2000 by becoming a Canadian. see http://isaacbrocksociety.ca/how-to-renouncerelinquish/ you can confirm that you intended to relinquish your USC when you became a Canadian by going to a US consulate. you would get a...

yes, it seems you have found the references to relinquishment, which may help your situation. Being up to date and compliant with the CRA should really help too. Since there are a lot of rules, tax code, etc. around all of this, you might consider getting professional help to assess your situation, ...

mrbacon,

you indicated in your first post that you may not be certain of your US citizenship.
have you tried speaking with a US immigration lawyer, to determine if
is possible that you relinquished your US citizenship by becoming a Canadian?

.at this point based on what I've read in the instructions and how I treat my employment pension...yes.. this is what I PLAN to do... see http://intltax.typepad.com/intltax_blog/2014/11/canadian-rrsps-and-rrifs.html for another blog opinion (last paragraph) as I indicated in my post I plan to report...

well, my take on this is that RRSP and RRIF reporting for those needing to file an 8938 will be like reporting for any employment pensions (not CCP or OAS of course). As per the new instructions Nelsona posted, use Part II ( “Other Foreign Assetâ€￾ Summary) to report the number of RRSPs, pensions etc and value. Any income is reported in Part III (2). The details such as value, where it is held , whether taxable..... etc is reported in Part VI. This is what I've been doing with my employer pension income except that I've been reporting address detail in line 7, not line 8 as the IRS says it wants for RRSPs. No complaints so far from the IRS.

So the reporting effort for those under the 8938 limit is now less and I think about the same for those who meet the threshold. I see no indication to report individual holdings.

Just go to the IFIC website and search 'pfic', to see the submission regarding Can mutual funds-- that may also cover etfs.

Have you seen how the QEF statements compare to the Can. T3? Like would the Can. and US taxes line up?

Has anyone heard an update on efforts of the Canadian mutual fund industry's attempt to have Can. mutual funds (and ETFs) excluded from PFIC rules? It seems that Canadian duals can't own US mutual funds and effective can't own Canadian ones either--this is a limitation on financial well being .From ...

Well, there is a move from the US to Canada, then a move from Canada to the US. Each country has rules, including those for eligibility, regarding the claiming of moving expenses. As a taxpayer, I'd be keeping the above mentioned records to hand a tax accountant at tax time, who will decide which ar...

Keep a good record of all moving details, including all related dates and receipts for travel, distances traveled, meals, hotels, car rental , etc. Though the rules vary, these can be used in both countries to reduce your taxes.

well, if you and your wife are joint owners, it seems to me that you are only on the hook for your portion (likely 50%) of the capital gains.